Existing-Home Sales Soar 5.6 Percent in November to Strongest Pace in Over a Decade
WASHINGTON (December 20, 2017) – Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors®. All major regions except for the West saw a significant hike in sales activity last monthRead more
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National housing indicators
Existing home sales(Nov)
5.81 millions units*
Existing home median price(Nov)
1.297 millions units*
New home sales(Nov)
0.685 millions units*
National economic indicators
3nd Quarter 2017
2st Quarter 2017
The homeownership rate of 63.9 percent was not statistically different from the rates in the third quarter 2016 (63.5 percent) or the second quarter 2017 (63.7 percent).
New home sales
Sales of new single-family houses in November 2017 were at a seasonally adjusted annual rate of 733,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 17.5 percent (±10.4 percent) above the revised October rate of 624,000 and is 26.6 percent (±16.6 percent) above the November 2016 estimate of 579,000.
The number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers..
Average Sale Price $229,525 Median Sale Price $190,000 Average Days on Market 56 Months Supply 2.0
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