Details of the November 2015 US existing home sales data report 22 December 2015
– Prior 5.36m. Revised to 5.32m
– Sale prices $220,300 vs $219,600 prior
– Inventory 2.04m units vs 4.8m prior
The 10.5% drop is the biggest for over 5 years. The NAR said that new paperwork regulation may be behind the drop due to lenders and closers being cautious about the new regs. Perhaps the more worrying fact was that 9% of sales were distressed vs 6% in Oct
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