Market Update: January Shows Rise in Existing Home Sales

The National Association of Realtors just announced that existing home sales rose 0.6% from December to January and jumped 23.7% year-over-year.

Bill Banfield, Rocket Mortgage Executive Vice President of Capital Markets, had the following comments on the news:

“Rising sales clearly show that Americans have experienced a fundamental shift in the importance of home over the course of the pandemic. They aren’t waiting until the traditional spring buying season. We are in the dead of winter, yet people are still looking to size up, find places with more space or a much-needed office.”

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