The rate for existing single-family home sales rose 6.7 percent in November to 4.15 million from 3.89 million in October, according to a release from the National Association of Realtors (NAR). Still, that sales rate was 27.3 percent below a peak of 5.71 million in November 2009, which was the initial deadline for the first-time buyer tax credit. Overall, the rate of existing home sales-including single-family, townhomes, condominiums and co-ops-rose 5.6 percent to 4.68 million in November from 4.43 million in October. These overall figures are 27.9 percent below November 2009's peak of 6.49 million.
The rate for existing single-family home sales rose 6.7 percent in November to 4.15 million from 3.89 million in October, according to a release from the National Association of Realtors (NAR). Still, that sales rate was 27.3 percent below a peak of 5.71 million in November 2009, which was the initial deadline for the first-time buyer tax credit. Overall, the rate of existing home sales-including single-family, townhomes, condominiums and co-ops-rose 5.6 percent to 4.68 million in November from 4.43 million in October. These overall figures are 27.9 percent below November 2009's peak of 6.49 million.
"Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," said Lawrence Yen, NAR's chief economist.