November Existing Home Sales Plunge

Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 8.6 percent to a seasonally adjusted annual rate of 4.49 million units in November from a downwardly revised level of 4.91 million in October, and are 10.6 percent below the 5.02 million-unit pace in November 2007.

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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NEW HOME SALES DOWN BIG The median existing single-family home price was $255,200, also a 2.9 percent increase. The median condo price gained 2.3 percent to $240,600.Despite slower sales, the housing inventory still declined from 1.74 million existing homes in November to 1.55 million. This is however an improvement from the 1.46 million homes available sale last.

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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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(The median price for an existing home was $220,300 in November, up 6.3% from the same month last year, while housing inventories at the end of November fell 3.3% from October to 2.04 million.

From November to December, sales of new and existing houses and condominiums in the. WASHINGTON (AP) – Home sales plunged sharply in November, as buyers faced rising prices and new regulations that might have delayed some closings. The National Association of Realtors said Tuesday.

Existing home sales in the U.S. picked up again in November, after a surprising drop during October, according to a report by the National Association of Realtors. Existing home sales rose 5.6 percent.

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.

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