Florida Home Loans News

November Existing Home Sales Plunge

 · Analysts are struggling to explain the 10.5% drop in existing-home sales. What a Holiday Downer: Existing-Home Sales Plunge in November. (The median price for an existing home was $220,300.

Home sales plunged in December, raising fresh concerns over the housing market’s ability to recover when government support winds down. Sales of previously owned homes fell 16.7% from November to.

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.

A real estate group says sales of existing homes plummeted far more than expected last month as buyers reeled from October’s big plunge on Wall Street. The median sales price fell by the largest.

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Existing home sales across the US drop 7% from a year ago, plunge 15.4% in the West. Sales of existing homes – including single-family houses, townhouses, condos, and co-ops – in November, dropped 7.0% from November last year, to a seasonally adjusted annual rate (SAAR) of 5.32 million homes, according to the National Association of Realtors this morning.

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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.

December’s housing data kicked off on a dismal note as Existing Home Sales slumped 3.6% MoM (after a 5.6% surge in November, which was revised lower).. Against expectations of a 1.9% MoM Drop, December’s 3.6% plunge is the biggest since Feb 2017. This drop was made worse by the downward revision of November’s 5.6% surge to 5.1%.

Following the small mom blip higher in existing home sales (though dismal yoy plunge), new home sales were expected to rebound in October (after plunging 5.5% MoM in September) but instead they utterly collapsed – crashing 8.9% MoM.

Existing Home Sales - Economic Insights WASHINGTON (MarketWatch) – The sale of existing U.S. homes sank 27.2% in July – the biggest one-month drop ever – largely because of the phase-out of a federal tax credit, according to an industry.

The National Association of Realtors® announced Friday that existing. affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who.

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