November Existing Home Sales Plunge

The housing market experienced a sharp drop in December as sales of existing homes fell 6.4 percent, the largest one-month decline in three years. On a year-over-year basis, sales fell more than.

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

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The national median existing-home price for all housing types was $173,100 in October, down 7.1% from October 2008. Distressed properties accounted for 30% of sales in October. In the West, which includes California, sales of previously owned homes increased 1.6% to an annual rate of 1.31 million in October and are 12% above a year ago.

According to the data released by NAR, existing home sales dropped 1.2 percent to a seasonally adjusted annual rate of 4.94 million units during the month of January. This was the lowest level since.

Also potentially weighing on home sales, the median price for a U.S. existing home rose to $220,300 in November, up 6.3 percent from the same month in 2014. Yun said the steep rise in prices and.

WASHINGTON-Sales of previously owned homes plummeted in November as delays caused by new mortgage red-tape and a dwindling supply of residences on the market pushed down sales to a level not seen.

Existing home sales looks like it is finally building an upward sequential trend. Last November, the median sales price hit a near 2-year low.. The current drift is challenging that notion but a plunge in consumer confidence.

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 178,000-square-foot center is anchored by At Home and big lots. dollar tree is absorbing a combined space that previously.

home owner’s association fees, insurance, repairs, and sales and marketing, would stretch for 38 months while a portion of the properties would generate income for 28 months. Moody’s stress for.

Washington Home sales plunged sharply in November, as buyers faced rising prices and ne

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PLUNGE. Drop in Home Sales triggers fear.. pending sales of homes dropped steeply from October to November, suggesting existing home sales.