Keeping you up to date on the latest data releases.
- Home Sales
Existing single-family home sales took a step in the right direction in November, increasing a sizeable 6.7 percent following a 2.0 percent retreat in October. The sales pace continued to recover from July’s plunge, climbing to 4.2 million annual units, its highest since June. However, year-over-year growth sank to its lowest since the 1981–1982 downturn, dropping from −25.6 percent to −27.3 percent in November. Inventory of existing single-family homes for sale declined 1.8 percent, representing 9.3 months’ supply at the current sales rate, still elevated but down from 10.1 months in October. The national median sales price was virtually unchanged over the month, dropping a slight 0.1 percent due to a lone mild drop in the South. The median price is up 1.2 percent on a year-over-year basis, with the Northeast leading all four regions (up 10.7 percent).