Existing home sales slid for the 10th consecutive month in November, as homebuyer demand continued to cool.
The seasonally adjusted sales rate for existing homes fell 7.7% month over month in November to a rate of 4.09 million, according to a report from the National Association of Realtors (NAR) released Wednesday.
On a yearly basis, existing home sales are down 35.4%.
“In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” Lawrence Yun, NAR’s chief economist, said in a statement. “The principal factor was the details ⇒
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