Existing Sales Best Since Feb 2007; Up 15.4% From Last Year

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Posted To: MND NewsWire

Existing home sales rose for the third consecutive month in November. The increase was fueled by condo sales and a surge of sales in the Northeast. Two of the four regions saw sales decline. The National Association of Realtors® (NAR) said sales of previously owned single-family houses, condos, townhouses, and cooperative apartments were up 0.7 percent compared to October. This brought sales to a seasonally adjusted annual rate of 5.61 million units, up from a revised (from 5.60 million) rate of 5.57 million the previous month. November’s sales pace is now the highest since February 2007 (5.79 million) and is 15.4 percent higher than a year ago (4.86 million). Analysts polled by Econoday had expected sales to slip in November, anticipating annual sales would be 5.54 million annualized,…(read more)

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