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Existing Home Sales Fall From October Peak

Monday, December 22, 2014

Existing home sales in November fell far short of sales the previous month according to today's report from the National Association of Realtors® (NAR).  Sales in November were at a seasonally adjusted annual rate of 4.93 million units, the lowest since May's 4.91 million unit pace and a 6.1 percent decline from the previous month.  November sales were still 2.1 percent higher than a year earlier, the second consecutive month of year-over-year gains.

October was a banner month for existing home sales with volume originally reported at an annual rate of 5.26 million units.  Despite the slight downward revision to 5.25 million reported today October remains the best month for sales since September 2013.

 

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