November Existing Home Sales Plunge

U.S. home sales increase 5.6 percent in November. Existing home sales hit their highest level in nearly 11 years. This is the latest indication that housing was regaining momentum after almost.

November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November. Note that this metric, as calculated, is the NAR’s "seasonally adjusted, annualized rate (SAAR)" metric. The point here is that the plunge in sales can’t be blamed on seasonality or the weather.

Existing Home Sales - Economic Insights  · U.S. Existing Home Sales Plunge in November National Association of Realtors attributes 10.5% drop to new federal rules for mortgage forms

Sales of previously owned U.S. homes rose in November to the strongest pace in more than a decade, a sign of solid momentum in the housing sector as 2017 draws to a close. Existing-home sales.

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Existing home sales are accounted for when the sales transaction has fully closed, including title transfer. In other words, sales for November would reflect contracts signed in September and.

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Existing Home Sales occurs when the mortgage is closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed. . 2009-12-23 · In November, the median sales prices for a new home was $217,400, a modest decline from $221,600 in November, 2008.

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.

November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November. Note that this metric, as calculated, is the NAR’s "seasonally adjusted, annualized rate (SAAR)" metric. The point here is that the plunge in sales can’t be blamed on seasonality or the weather.

And no, that was not a seasonal effect. Existing home sales declined 6.4% MoM in December, the largest decline since November 2015. And on a YoY basis, existing home sales plunge 10.25%. US existing homes are very expensive compared to household income and the surge in mortgage rates during 2018 made housing ever less affordable..