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With spiking mortgage rates, and tumbling mortgage applications, it is hardly surprising that existing home sales tumbled in December but the 2.8% plunge is the biggest since July and is the worst decline for December since 2009.
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The credit was originally supposed to expire in November, meaning that would-be home buyers of existing homes would make their purchases before the credit expired – leading to high sales figures in.
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WASHINGTON (AP) – Home sales plunged sharply in November, as buyers faced rising prices and new regulations that might have delayed some closings. The National Association of Realtors said Tuesday.
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Homebuying activity increased in November to the strongest sales pace in nearly a decade, though rising prices and mortgage rates could pressure the U.S. housing sector in the new year. Purchases of.
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WASHINGTON – Sales of existing homes managed to eke out a small increase in November, but the price of homes sold fell for a record fourth consecutive month a real estate trade group reported Thursday.
Existing Home Sales occurs when the mortgage is closed. Mortgage closing usually takes place 30-60 days after the sales contract is closed. . This page provides the latest reported value for – United States Existing Home Sales – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Economists had expected existing home sales to slump by 1.3 percent to a rate of 5.25 million from the 5.32 million originally reported for the previous month. With the much bigger than expected decrease, existing home sales tumbled to their lowest level since November of 2015. The report also said existing home sales in December were down by.
The U.S. Census Bureau will report new home sales on Thursday, December 27. The post Forecast for Existing and New Home Sales (November 2018) appeared first on Zillow Research..
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.