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.
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WASHINGTON-Sales of previously owned homes plummeted in November as delays caused by new mortgage red-tape and a dwindling supply of residences on the market pushed down sales to a level not seen.
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.
Southern California home sales plunged in November from a year earlier, while prices increased at the slowest pace in three years amid a housing market slowdown, reported Los Angeles Times.
Total existing-home sales-which are completed transactions that include single-family homes, townhomes, condos, and co-ops-dropped 6.4 percent in December compared to November. Sales are now down 10.3 percent from a year ago, according to the National Association of REALTORS’ existing-home sales report, released Tuesday.
2015-12-22 · WASHINGTON-Sales of previously owned homes plummeted in November as delays caused by new mortgage red-tape and a dwindling supply of residences on the market pushed down sales to a level not seen since April 2014. Existing-home sales fell 10.5% last month to a seasonally adjusted annualized rate
Sales of new single-family houses in the United States jumped 7.1 percent from the previous month to a seasonally adjusted annual rate of 713 thousand in August 2019, following a revised 8.6 percent slump in July and easily beating market expectations of a 3.5 percent increase. New home sales in the South rose 6 percent and those in the West soared 16.5 percent.
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A recent article headlined a home sales plunge in November, but as always it pays to look into the numbers in more detail. The National Association of Realtors (NAR) used a more moderate headline in its existing home sales suffer setback in November report.. So what actually happened in November?
According to NAR, existing-home sales rose 0.7 percentage points to a seasonally adjusted annual rate (SAAR) of 5.61 million. nar chief economist lawrence yun says "it’s been an outstanding.
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