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Home Sales Dip in November

Sales of existing homes dropped in November.

The decrease from October to November was 6.1 percent, with the market faltering in advance of the slower winter months.

Sales of previously owned homes have hit their lowest level since May, according to a Forbes article.

Despite the dip, “November was the second month in a row that the pace of previously owned home sales was higher by 2.1 percent than in the prior year,” the article says.

The decrease in home selling came even though interest rates were low.

“Fewer people bought homes last month despite interest rates being at their lowest levels of the year,” says Lawrence Yun, the National Association of Realtors’ chief economist, in the article.

To read the full article, click here.

 

About Renee Changnon

Renee Changnon is the retail outreach coordinator for NRHA. She meets with retailers in their stores and at industry events and introduces them to the services NRHA provides. Renee previously worked as a member of the NRHA communications team. She earned a degree in visual journalism from Illinois State University, where she served as the features editor for the school newspaper. After college, she implemented marketing and promotions initiatives at Jimmy John’s franchise locations across the country. She enjoys exploring books with her book club, Netflix marathons and hosting goat yoga at her apartment complex. Renee Changnon 317-275-9442 rchangnon@nrha.org

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