Existing Home Sales Post Largest Gains Since 2015

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Posted To: MND NewsWire

Existing home sales pulled off a hat trick in November, and the third successive monthly increase was a substantial one. The National Association of Realtors® (NAR) says sales rose 5.6 percent from October to November, reaching their strongest pace in nearly 11 years. Sales of existing single-family homes, townhomes, condos, and cooperative apartments were at a seasonally adjusted annual rate of 5.81 million, up from a revised (from 5.48 million) 5.50 million sales in October. The increase brought sales to a level 3.8 percent higher than in November 2015, and the highest since December 2006. (As a technical aside, NAR says the November increase is the largest monthly gain since December 2015 when the rate of sales jumped 12.1 percent. This was due in part to delayed closings resulting from…(read more)

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