Existing home sales fell 1.7% in November to a seasonally adjusted rate of 5.35 million, the National Association of Realtors (NAR) reported.
Sales were up 2.7% compared with November 2018.
“Sales will be choppy when inventory levels are low, but the economy is otherwise performing very well, with more than 2 million job gains in the past year,” NAR Chief Economist Lawrence Yun stated.
The median existing home price was $271,300, a 5.4% increase from November 2018.
Regionally, November sales grew 2.3% in the Midwest and 1.4% in the Northeast. Sales declined 3.9% and 3.5% in the South and West, respectively.
The full NAR report can be found here.
Read Next
