Sales of existing homes fell 7.7% in November compared with October, according to the National Association of Realtors, marking the tenth straight month of declines.
Sales of existing homes fell 7.7% in November compared with October, according to the National Association of Realtors.
Sales were down 35.4% year over year, marking the tenth straight month of declines. That was the weakest pace since November 2010, with the exception of May 2020, when sales fell sharply, albeit briefly, during the early days of the. In November 2010, the nation was mired in the great recession as well as a foreclosure crisis.
At the end of November, there were 1.14 million homes for sale, which is an increase of 2.7% from November of last year, but at the current sales pace it represents a still-low 3.3 month supply.kept prices higher than a year ago, up 3.5% to a median sale price of $370,700, but those annual gains are shrinking fast, well off the double-digit gains seen earlier this year.
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