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Housing Market

Existing Home Sales closed out 2016 as the best year in a decade, though December's numbers were below expectations at 5.48 million units on an annualized basis. The National Association of REALTORS® reported that sales in 2016 were 5.45 million units, above the 5.25 million in 2015 and the highest since the 6.48 million in 2006.
New Home Sales fell 10.4 percent from November to December. It was the lowest level since February 2015 and down 0.4 percent from December 2015. Although the news was disappointing, data showed a near six-month supply of new homes for sale, which finally signals a healthy balance between supply and demand.