November Existing Home Sales Plunge

The National Association of Realtors said Tuesday that sales of existing homes fell 6.4 percent to a seasonally adjusted. triggered a softening in sales around May and climbed through November when.

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Sales of new U.S. homes plummeted 8.9 percent in October, as the number of newly built, unsold homes sitting on the market climbed to its highest level since 2009.

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Economists polled by Reuters had forecast existing home sales falling 0.6 percent to a rate of 5.20 million units in November. Existing home sales, which make up about 90 percent of U.S. home sales,

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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.

Economists surveyed by had been looking for a 0.4 percent rise in the index, which tracks the number of existing homes for which a sales contract has been signed but a closing has not yet. – U.S. existing home sales fell sharply in November to hit the lowest level in 19 months, dampening optimism over the health of the housing market, industry data showed on Tuesday.

U.S. Existing Home Sales Plunge in November National Association of Realtors attributes 10.5% drop to new federal rules for mortgage forms

but existing home sales managed a modest SAAR bounce; and while expectations were for some give-back in November, existing home sales managed an upside surprise – rising 1.9% MoM. However, that is the.

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 · Existing homes sales plunged 10.5% this month which the NAR attributes to an initiative called "Know Before You Owe". Economists, apparently.

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 · Total existing-home sales-which are completed transactions that include single-family homes, townhomes, condos, and co-ops-dropped 6.4 percent in December compared to November. Sales are now down 10.3 percent from a year ago, according to the National Association of REALTORS®’ existing-home sales report, released Tuesday.

NEW YORK ( — Sales of existing homes. said 84,868 homes were lost to foreclosure last month. "The private market is still very weak indeed, and the next few months represent a severe.

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