November Home Sales Hit 11-Year High
EXISTING HOME SALES SURGE FOR THIRD MONTH IN A ROW
(CNN) – Sales of existing homes were at their strongest pace in almost 11 years in November.
The National Association of Realtors reports that sales were up 5.6%, for a seasonally adjusted annual rate of 5.81 million.
it’s the strongest rate since 2006.
NAR’s chief economist credits fast economic growth, record stock market highs, and job gains with feeding demand for homes.
Prices are up too; the median price for an existing home in November was $248,000.