November Existing Home Sales Plunge

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Low mortgage rates helped boost existing-home sales in July, it's been since November 2016, according to mortgage buyer Freddie Mac.

Sales of new single-family houses in the United States jumped 7.1 percent from the previous month to a seasonally adjusted annual rate of 713 thousand in August 2019, following a revised 8.6 percent slump in July and easily beating market expectations of a 3.5 percent increase. New home sales in the South rose 6 percent and those in the West soared 16.5 percent.

That is the lowest December sales pace since 2007. From November to December, sales of new and existing houses and condominiums in the.

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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.

November existing home sales were well below market expectations. The not seasonally adjusted, actual estimated sales plunged. Investor sales continue to drop and first time buyers are not filling the.

Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, the National Association of Realtors reported.

OTTAWA-Sales of existing homes in Canada fell sharply in May from the prior month, recording the biggest decline in nearly five years, reflecting measures introduced in the province of Ontario that.

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