The National Association of Realtors (NAR) just released their 2013 4th Quarter Housing Report.
We believe the leveling in home sales is directly attributable to a lack of salable listing inventory; specifically in the West.
Three of the four regions in the NAR report had an increase in sales: Northeast (+7.1%), Midwest (+2%) and South Regions (+3.6%).
A big fall-off in sales occurred in the Western Region. The dramatic fall-off in the West (-8.1%) can be directly linked to a shortage of inventory in their hottest markets.
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Jim Starwalt, Real Estate Broker
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Home Sales are Up in the Midwest