November Existing Home Sales Plunge

Sales of new U.S. homes plummeted 8.9 percent in October, as the number of newly built, unsold homes sitting on the market climbed to its highest level since 2009.

Existing home sales, which were already at a 7-1/2 year low in November and down 7.0 percent from a year earlier are now 10.3 percent lower than from the 5.56 percent pace last December.

Mortgage Delinquencies Reach 6-Year Low, Near Normal Levels – Finance Post Total personal loan balances are expected to reach an all-time high of 156.3 billion by the end of 2019. We anticipate origination levels to remain healthy across all risk tiers. Even with growth expected in the subprime risk tier, overall serious delinquency rates are expected to drop for personal loans to finish next year at 3.39%.

Sales of existing homes plunged far more than expected last month as buyers recoiled from October’s financial wreckage on Wall Street. The median sales price fell by the largest amount on record.

That represents 11.2 months of supply, at the current rate of sales, up from 10.2 months in October. Bloated inventories have barely budged over the past 12 months; last November there were 4.27.

The housing market experienced a sharp drop in December as sales of existing homes fell 6.4 percent, the largest one-month decline in three years. On a year-over-year basis, sales fell more than.

Home sales plunged in December, raising fresh concerns over the housing market’s ability to recover when government support winds down. Sales of previously owned homes fell 16.7% from November to.

November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November.Note that this metric, as calculated, is the NAR’s "seasonally adjusted. The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country.

November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November. Note that this metric, as calculated, is the NAR’s "seasonally adjusted, annualized rate (saar)" metric. The point here is that the plunge in sales can’t be blamed on seasonality or the weather.

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November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November. Note that this metric, as calculated, is the NAR’s "seasonally adjusted, annualized rate (SAAR)" metric. The point here is that the plunge in sales can’t be blamed on seasonality or the weather.

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