Dec 22

Existing Home Sales Collapse – Worst November In History:

The 10.5% crash in existing home sales is the worst November drop ever. Against expectations of a mere 0.2% drop, this is the largest miss in history asnd tumbles SAAR sales to the weakest since March 2014. The collapse in sales was across all regions, and ironically was accompanied by a rise in median home prices across all regions. Of course there was plenty of blame to go around, from inventory constraints to weather but most of all – paperwork – as new regulations – Know Before You Owe initiative, has meant longer closing times. In other words, wait til next month, it will all be great!?

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