U.S. | Existing Home Sales Fall in November, but Other Parameters Still Very Strong

Summary

Existing home sales in November declined 10.5% MoM and 3.8% YoY. Likely reasons were the timing of sales before the introduction of the latest mortgage disclosure rules, and longer mortgage processing times after they were introduced. Median home prices increased and inventory of existing homes for sale fell, indicating that the current drop in sales is likely transitory.

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