January started off strong for the housing market, with healthy buyer demand and strong market fundamentals. A robust increase in housing starts in December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units. Pending sales increased 17.6 percent for residential homes and inventory decreased 41 percent! Our median sales price increased 16.6 percent to $230,000.