Posted To: MND NewsWire

Existing home sales finally took a breather in November, breaking a five month stretch of gains, often substantial ones. The National Association of Realtors® (NAR) said that pre-owned single-family homes, townhomes, condos, and cooperative apartments sold at a seasonally adjusted annual rate of 6.69 million units, a 2.5 percent decline from October’s 6.85 million pace. Sales were still 25.8 percent higher than the 5.32 million rate of sales in November 2019. Sales were slightly below the estimates of analysts polled by both Trading Economics and Econoday . They had forecast sales of 6.71 million and 6.72 million, respectively. Single-family homes sold at a seasonally adjusted annual rate of 5.98 million, 2.4 percent off the October pace and existing condo sales fell 2.7 percent to 710…(read more)

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Source: Mortgage News Daily