Existing home sales grew 1.9 percent in November to a seasonally adjusted rate of 5.32 million, according to the National Association of Realtors (NAR).
The sales rate is down 7.0 percent compared with November 2017.
“The market conditions in November were mixed, with good signs of stabilizing home sales compared to recent months, though down significantly from one year ago,” NAR Chief Economist Lawrence Yun said in a statement. “Rising inventory is clearly taming home price appreciation.”
The median existing home price increased 4.2 percent from November 2017, rising to $257,700.
Regionally, existing home sales increased 7.2 percent in the Northeast, 5.5 percent in the Midwest and 2.3 percent in the South. Sales in the West fell 6.3 percent.
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