The numbers: U.S. existing-home sales increased 1.9% to a seasonally changed annual rate of 6.46 million in November, the National Association of Realtors stated Wednesday. That is the third straight regular monthly gain and also the highest degree since January. Compared to November 2020, residence sales were down 2%.
Financial experts surveyed by The Wall Street Journal had actually anticipated a boost to 6.5 million systems.
Trick information: On a regional basis, the southerly states are seeing one of the most gains. Sales rose 2.9% in the South, and 2.3% in the West. Sales were up a slight 0.7% in the Midwest as well as were unchanged in the East.
The typical cost for an existing residence sold in November was $353,900, a boost of 13.9% over the previous year.
There were 1.11 million residences offered at the end of November, down 13% on a year-on-year basis.
Unsold supply went to a 2.1 month supply in November, the most affordable because January. That’s down from 2.3 in the exact same month last year.