Producer Kailyn Bennett reports on the latest National Association of REALTORS® data showing existing-home sales rose 0.5% in November to a seasonally adjusted annual rate of 4.13 million. While sales increased for the third straight month, inventory tightened to 4.2 months of supply, and the national median home price rose 1.2% year over year.
The report also shows mixed regional trends, stronger single-family home sales compared to condos, and a growing share of investor and second-home buyers, as mortgage rates declined in November.
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SOURCE: https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-0-5-increase-in-november
