Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

Existing Home Sales End Year on Higher Note

By Jann Swanson

Posted To: MND NewsWire

Existing home sales yo-yoed again in December. The National Association of Realtors® (NAR) said total sales of existing homes, including single family residences, condominiums, and co-ops were estimated at a seasonally adjusted annual rate of 5.04 million, a 2.4 percent increase from November rate of 4.92 million. November’s sales had fallen off a 5.25 million pace in October, the best month for sales in over a year. NAR said December’s sales represented the sixth time in seven months that sales have exceeded 5 million units and NAR noted that the increase came despite a tightening of inventory in December. December sales were up 3.5 percent from the pace in December 2013. This was the third straight month that existing home sales were higher than year earlier levels. Single-family home…(read more)

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