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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