Existing Home Sales Drop Amid Rising Prices, Low Supply Unlisted Video
3 years ago
3.69K
National Association of Realtors
United States Housing Market Correction
Real Estate
Units Of Time
Recession
Economy
United States
existing homes
supply and demand
sales
real estate transactions
Ending a six-month run of spiraling demand, sales of existing homes in the US contracted in November.
It's being read as a signal that rising prices and historically low supply is finally slowing the housing market's rally.
According to Business Insider, the National Association of Realtors says home sales fell 2.5% last month to a seasonally adjusted annual rate of 6.69 million.
The median price for existing homes fell to a six-month low as well, dipping month-over-month to $310,800 from $313,100.
Even so, the pace is still up 25.8% from the year-ago period.
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