NAR: 2016 marked best year for sales in a decade
Existing-home sales finished out 2016 as the best year since the housing boom days, according to the National Association of REALTORS (NAR). Total existing-home sales – which are completed transactions that include single-family homes, townhomes, condos, and co-ops – closed 2016 at 5.45 million sales, surpassing 2015 (5.25 million). It was the highest total for existing-home sales since 2006 (6.48 million).
“Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market,” says Lawrence Yun, NAR’s chief economist.
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