Existing Home Sales Fall 3.4 Percent; Still Up Year-Over-Year

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Posted To: MND NewsWire

Pending sales, which had declined in both September and October did indeed prove to be a leading indicator for existing home sales in October. The National Association of Realtors® said on Monday that, while October sales were at a healthy pace, they did decline by 3.4 percent from sales in September. Existing single-family homes, townhomes, condominiums, and co-op apartments were at a seasonally adjusted annual rate of 5.36 million units in October compared to 5.55 million in September. Despite the month-over-month dip sales were still higher than a year ago by 3.9 percent. Analysts were expecting sales to be at a 5.4 million annual rate. Single-family home sales fell 3.7 percent to a seasonally adjusted annual rate of 4.75 million in October from 4.93 million in September, but remain...(read more)

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Source: http://www.mortgagenewsdaily.com/11232015_existing_homes.asp

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