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.
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.
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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WASHINGTON-Sales of previously owned homes tumbled to a six-month low in November, a sign the housing market continues to underperform despite a burst of stronger economic growth. Existing-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.
Existing home sales fall well short of expectations. home sales are on track for their best year since the expansion began. The NAR said November’s sales plunge is mostly due to the industry.
The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.
U.S. home sales unexpectedly rose in November, but recorded their biggest annual decline in 7½ years, adding to other data that have painted a grim picture of the housing market. The National.
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.
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. The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country.