Existing Home Sales Up 1.9% in November

The National Association of Realtors is reporting that existing home sales were up 1.9% in November to a seasonally-adjusted annual rate of 6.46 million (down 2% from one year ago). However, this figure does denote three consecutive months of increases. Total housing inventory at the end of November was 1.11 million units, down 13.3% from one year ago. Unsold inventory sits at a 2.1-month supply at the current sales pace with properties remaining on the market for around 18 days. As always, low inventory remains an issue. Continue reading HERE...