Reader-Funded Data Journalism
PPD Polls Conducted By
https://www.bigdatapoll.com/
Connect With PPD
Wednesday, March 20, 2019
HomeNewsEconomyExisting Home Sales Gain for Second Straight Month

Existing Home Sales Gain for Second Straight Month

A under contract sign on a home previously for sale in Vienna, Va. (Photo: Reuters)
A under contract sign on a home previously for sale in Vienna, Va. (Photo: Reuters)
A under contract sign on a home previously for sale in Vienna, Va. (Photo: Reuters)

The National Association of Realtors (NAR) said Wednesday existing home sales gained for the second straight month, beating the consensus forecast. 

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.9% from October to a seasonally adjusted rate of 5.32 million in November.

Sales are still down 7.0% from a year ago (5.72 million in November 2017).

“The market conditions in November were mixed, with good signs of stabilizing home sales compared to recent months, though down significantly from one year ago,” said Lawrence Yun, NAR’s chief economist.

“Rising inventory is clearly taming home price appreciation.”

The median existing-home price for all housing types in November was $257,700, up 4.2% from November 2017 ($247,200). November’s price increase marks the 81st straight month of year-over-year gains.

By
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.