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Existing Home Sales Plummet Most Since July 2010
Tuesday, December 22, 2015
Existing home sales declined considerably in November
although the National Association of Realtors, in reporting the data, blamed in part new
disclosure rules that may have delayed some closings. Whatever the reason, the November closed
transaction numbers were the lowest in 19 months.
Sales of existing single-family homes, condominiums and
cooperative apartments were down 10.5 percent in November to a seasonally adjusted
annual rate of 4.76 million. It was the largest slowdown in sales since July
2010 when the monthly drop was 22.5 percent.
Sales in October were revised down from the 5.36
million units reported last month to 5.32 million.
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