Existing Home Sales Fall in November : The Real Estate Bloggers

Existing Home Sales Fall in November

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It looks like we have two factors at  work in this report. We have a slowdown in home sales, and many people  trying to get their homes on the market before any bubble has the  chance to pop.

Sales of existing U.S. homes fell 1.7 percent in November to a 6.97 million unit rate as inventories hit their highest point in more than 19 years, according to trade group data on Thursday showing a cool-down in housing.
November’s sales rate compared with an unrevised 7.09 million unit pace in October and marked the first time the pace of sales has dipped below 7 million units since March, the National Association of Realtors said.
The existing homes figure includes both single-family homes and condominiums. ABC News.

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