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Home sales plunged in December, raising fresh concerns over the housing market’s ability to recover when government support winds down. Sales of previously owned homes fell 16.7% from November to.
NAR said existing home sales plummeted by 6.4 percent to an annual rate of 4.99 million in December after jumping by 2.1 percent to a revised rate of 5.33 million in November. Economists had expected existing home sales to slump by 1.3 percent to a rate of 5.25 million from the 5.32 million originally reported for the previous month.
From November to December, sales of new and existing houses and condominiums in the. WASHINGTON (AP) – Home sales plunged sharply in November, as buyers faced rising prices and new regulations that might have delayed some closings. The National Association of Realtors said Tuesday.
With spiking mortgage rates, and tumbling mortgage applications, it is hardly surprising that existing home sales tumbled in December but the 2.8% plunge is the biggest since July and is the worst decline for December since 2009.
Existing-home sales were 5.22 million at a seasonally adjusted annual. (Also read: Can Builder Confidence Recover From November’s Sharp Plunge?) The latest monthly sales gain along with the.
The median existing single-family home price was $255,200, also a 2.9 percent increase. The median condo price gained 2.3 percent to $240,600.Despite slower sales, the housing inventory still declined from 1.74 million existing homes in November to 1.55 million. This is however an improvement from the 1.46 million homes available sale last.
(The median price for an existing home was $220,300 in November, up 6.3% from the same month last year, while housing inventories at the end of November fell 3.3% from October to 2.04 million.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 8.6 percent to a seasonally adjusted annual rate of 4.49 million units in November from a downwardly revised level of 4.91 million in October, and are 10.6 percent below the 5.02 million-unit pace in November 2007.
Despite heightened interest in homeownership, existing. sales, matching a high set in November 2015. This share was up from 23 percent in the previous month and 25 percent in the previous year.
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However, the November 30th date is subject to change, depending on stock. (Note: Last week’s “sale-a-thon” was just a.
The National Association of Realtors (NAR) reports that the seasonally adjusted annual rate of existing-home sales in November rose by 1.9% to a seasonally adjusted annual rate of 5.32 million from a.
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