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Existing Home Sales Sizzle in January 2024

Buckle up, housing market watchers! After a recent dip, existing home sales in January 2024 made a fiery comeback, offering valuable insights for both buyers and sellers. Let’s dissect the data and see what it means for your next move.

Sales Surge, Inventory Simmers: Existing home sales jumped 3.1% compared to December, reaching a seasonally adjusted annual rate of 4 million units. This marks the highest level in five months, indicating a renewed buzz in the market. Additionally, available homes (inventory) saw a 2% increase, offering buyers more options to explore.

Price Power Persists: While sales are heating up, prices remain relatively stable. The median sale price for existing homes hit a record high of $379,100, up 5.1% year-over-year. This suggests a continued seller’s market, but without the dramatic price hikes seen earlier.

Regional Roundup: The sales surge wasn’t uniform across the nation. The West and South saw the most significant jumps, with sales increasing 6.1% and 5.3% respectively. The Northeast remained stable, while the Midwest experienced a modest 1.9% increase.

Navigating the New Landscape:


  • Selection Sizzle: Rejoice! Increased inventory translates to more options, giving you a better chance of finding your dream home.
  • Price Plateau: While prices remain high, the lack of recent spikes offers some stability in your budget planning.
  • Swift Action Still Key: Don’t get complacent! Competition can still be fierce in certain areas, so be ready to move quickly when you find the right fit.


  • Market Momentum: The sales rebound indicates strong buyer demand, potentially making this an ideal time to sell.
  • Price Power: Record-high median prices suggest you could fetch a premium for your property, maximizing your return on investment.
  • Strike While the Iron’s Hot: Considering listing soon? Capitalizing on the current market momentum could lead to a smoother and faster selling process.
  • Knowledge is Power: Knowing the value of your home is crucial to protecting your equity and maximizing your profit. Get a free home value report at:

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