By Natakie Dolce | GlobeSt.
So far sales have been bulletproof to price increases, but this is unsustainable in a slowly growing economy unless inventory improves, says Redfin’s chief economist
The housing market is going to get more competitive in 2016, according to locally based Redfin. Home sales grew 6.7% in January from last year, while depleted inventory pushed the median sale price up 7.7% to $255,300. Total inventory fell 5.6%, while the number of new listings inched up 0.5% year over year.
