Existing home sales decline 4.3% in November

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Last month, existing home sales rose across the country except for the Northeast. There were 1.89 million previously owned homes on the market in July, down from 1.92 million in June and a 1.6% decrease from July 2018. The median existing house price increased 4.3% from a year ago to $280,800 in July.

Prices for new homes have been more restrained than for existing ones. The median price for a new home was $310,400 in June, little changed from a year earlier. median existing home prices rose 4.3% in June from a year ago, faster than the growth in average hourly pay.

Existing-home sales decreased 3.6% in December, but the first-time buyer share rebounded to 32% from 29% last month. The National Association of Realtors reported that existing sales for all of 2017 increased 1.1% from the previous year, and was the best year for sales in 11 years.

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Sales of previously owned homes plunged in November, falling 10.5 per cent from the prior month to a seasonally adjusted annual rate of 4.76 million, the slowest sales pace for existing homes.

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WASHINGTON (MarketWatch) – Sales of U.S. existing homes plunged. million from 6.54 million in November as a popular tax credit was set to expire, a national real estate trade group estimated Monday.

The median existing house price increased 4.3% from a year ago to $285,7000 in June, an all-time high. At June’s sales pace, it would take 4.4 months to exhaust the current inventory, up from 4.3 months in May.

Sales Up, but Prices, Not So Much First up, let’s look at home prices. In January, the nationwide median price of an existing single-family home was down 2.6% from a year ago to $154,400.

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Year-on-year, existing home sales rebounded 0.6 percent, the first annual gain in 17 months. Existing Home Sales in the United States averaged 3963 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. Existing Home Sales occurs when the mortgage is closed.

WASHINGTON (MarketWatch) — Sales of existing homes slumped 4.3% in November, a third month of declines, to a seasonally adjusted annual rate of 4.9 million, on higher mortgage rates and low.

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