Home Sales on the Rise
January 2017Both New Home and Existing Single-Family Home Sales Increase in November
Sales of newly built, single-family homes grew 5.2% in November to a seasonally adjusted annual rate of 592,000 according to the U.S. Census Bureau and the Department of Housing and Urban Development. Compared to November 2015, it was a 16.5% increase from the annual rate of 508,000.
Existing home sales increased for the third consecutive month and reached the highest pace since February 2007 as reported by the National Association of Realtors. November sales were up 0.7% in November from October 2016 and 15.4% increase from November 2015. The largest surge occurred in the Northeast, home sales had an 8% increase followed by a 1.4% increase in the South.
For more information: U.S. Census Bureau and National Association of Realtors