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Existing Home Sales Pop In November
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Existing home sales shot up in November.
Sales rose nearly 5% month-over-month in the U.S. last month, according to data released on Thursday by the National Association of Realtors (NAR). It was the largest monthly gain in 6 months. Sales were also up 6% compared to last year.
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"Home sales momentum is building," said NAR Chief Economist Lawrence Yun. "More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%."
While sales rose in the last two months, 2024 is still on track to see the lowest volume of home sales since 1995.
See other articles related to: existing home sales
This article originally published at https://dc.urbanturf.com/articles/blog/existing_home_sales_pop_in_november/23029.
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