U.S. HOME SALES ROSE IN NOVEMBER, PRICES ROSE 4% IN LAST YEAR

Key Points:

  • Existing-home sales rose 0.8% in November from October, after five-months of consecutive declines, to a seasonally adjusted annual rate of 3.82 million.
  • November’s increase come after sales in October fell to the lowest rate in 13 years, dating back to August 2010.
  • Existing-home sales fell 7.3% from one year ago.
  • The median existing-home sales price for November rose 4.0% from one year ago to $387,600.
  • First-time buyers were responsible for 31% of sales in November, up from 28% in October and November 2022.
  • “Home prices keep marching higher,” said NAR Chief Economist Lawrence Yun. “Only a dramatic rise in supply will dampen price appreciation.”
  • The Right Facts will continue to monitor home sales.
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