Existing home sales decline 4.3% in November

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Implications: After three straight months of gains, existing home sales ended 2017 on a soft note. Sales of previously-owned homes fell 3.6% in December to a 5.57 million annual rate, but are still up 1.1% from a year ago. Despite the weak headline number, sales posted their best year since 2006, showing the upward trend is still intact.

US new home sales rise 7% in June after 2 months of decline .. along with a drop in existing home sales in June, suggests the housing market is still struggling to accelerate after slowing.

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This morning’s existing home sales report showed a 4.3 percent drop in November. Quicken Loans vice president Bill Banfield offers the following comments on the report: "This month’s existing sales report marks the third month of declines.

WASHINGTON-Sales of previously owned homes slipped in November to the lowest level in almost a year, the latest evidence of higher mortgage rates holding back potential buyers. Existing-home sales decreased 4.3% from the prior month to a seasonally adjusted annual rate of 4.9 million, the National Association of Realtors said Thursday.

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The decline in sales occurred across the board in every major U.S. region, with the biggest declines occurring in the West (9.6%) and Midwest (8.9%). Total housing inventory was down 6.7% in November to 2.09 million existing homes for sale, or a 5.1-month supply at the current sales pace.

Contents million tyo .5 million years 2005 state Worst monthly decline Existing homes slumped 4.3 15 basis points home sales increased The average sales price is up +4.3% year-over-year while the year-over-year median sales price. their home. Existing mortgages will have their interest deductibility preserved but any new mortgage will.

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The annual rate of increase in signed home transactions thus stood at 3.8%, against 3.5% a month earlier: indeed, demand is growing everywhere and the rebound in sales is increasing over the months.

July existing-home sales in the Northeast decreased 2.9% to an annual rate of 660,000, a 4.3% decline from a year ago. The median price in the Northeast was $305,800, down 1.0% from July 2018. In the Midwest, existing-home sales edged up 1.6% to an annual rate of 1.27 million, which is a 0.8% increase from July 2018.