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  • Frank Tian

US 🏡 Sales

🏡 Sales momentum began to slow

US: Jan sales volume of existing home -2.3% Y/Y.

Canada: Jan sales volume -10.7% Y/Y.


Some buyers have been priced out of the market.

US: the median price +15.4% Y/Y.

Canada: Home Price Index +28% Y/Y.


Even with interest rates rising, the prices likely will stay high.

Both countries saw Jan inventory at only 1.6 months.

The inventory is expected to improve in early Spring.


Source:

NAR, CREA.


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