Existing-home sales rose for the third straight month in November as buyers were encouraged by a robust job market as well as low-interest mortgage rates that are not expected to last long with the Fed looking to hike rates early spring. The sales for previously-owned homes increased by 1.9 percent last month when compared to October, to a seasonally adjusted annual rate of 6.46 million, according to a report published Wednesday by the National Association of Realtors. The transactions that included “single-family homes, townhomes, condominiums, and co-ops” fell 2.0 percent from 6.59 million clocked in 2020. However, the median existing-home prices went up by 13.9 percent to $353,900 from $310,800 in November 2020, with increases registered in all regions of the country. The south had the highest pace of appreciation, and based on data collected, this is the 117th straight month of year-on-year price hikes. “Supply-chain disruptions for building new …
6.46 Million Existing Homes Sold in November, Sales Increase For Third Consecutive Month
December 23, 2021
admin
0 Comment