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Southern California home sales plunged in November from a year earlier, while prices increased at the slowest pace in three years amid a housing market slowdown, reported Los Angeles Times. The 12% decline in November sales from a year earlier was the fourth consecutive monthly drop for the eight southern counties, including Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego.
Existing home sales always rise in July versus June because people need to move before school starts. This is a meaningless data point. The important data point is how it compares with the prior July. That is buried deep in the NAR press release. Surprise, Surprise. Existing home sales FELL by 4.3% versus July of last year.
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· U.S. home sales unexpectedly rose in November, but recorded their biggest annual decline in 7-1/2 years, adding to other data that have painted a grim picture of the housing market.
NAR said existing home sales plummeted by 6.4 percent to an annual rate of 4.99 million in December after jumping by 2.1 percent to a revised rate of 5.33 million in November. Economists had expected existing home sales to slump by 1.3 percent to a rate of 5.25 million from the 5.32 million originally reported for the previous month.
U.S. Existing Home Sales Plunge To Nearly Three-Year Low In September U.S. Existing Home Sales Unexpectedly Jump 1.9% In November mortgage loan rates show small moves as New Applications Drop Again $12 Million Jackie Gleason Home Is Week’s Most Viewed US housing recovery: Ten years after the bubble burst
It was the first monthly decline in year-over-year existing home sales since November, and much sharper than the 1.9 percent drop reported then, according to Illinois Realtors. The real estate trade.
Home sales plunge in city in November. The number fell by 8.5 percent from a year earlier. The decline wasn’t as sharp for the region.. Year-to-date, city home sales are down 4 percent from the.
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The housing market experienced a sharp drop in December as sales of existing homes fell 6.4 percent, the largest one-month decline in three years. On a year-over-year basis, sales fell more than.