National Real Estate Update -- Existing Home Sales dipped 6.1% - TopicsExpress

National Real Estate Update -- Existing Home Sales dipped 6.1% in November, to just below the 5 million unit annual rate, but this follows Octobers read, which was the highest level of the year. Sales are still 2.1% ahead of a year ago. Given the monthly volatility, its important to look at the underlying trend, which is upward and improving. The market itself also improves. Non-cash sales, where the buyer takes out a mortgage, are 12.6% above last November. The median price is up 5.0% over last year, which should entice more sellers to list.

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