Sales of existing homes ended a five-month skid as they rose 0.8% from October to November. However, sales are still 7.3% lower than a year ago due to tight inventory and elevated mortgage rates. Yet, NAR’s chief economist, Lawrence Yun, noted that “a marked turn can be expected as mortgage rates have plunged in recent weeks.”
Pending Home Sales (signed contracts on existing homes) surged 8.3% from November to December, due in large part to falling mortgage rates per the NAR. Their Chief Economist, Lawrence Yun,
Sales of existing homes slid 1% from November to December, though sales are expected to move higher this year. NAR’s Chief Economist, Lawrence Yun, explained that “mortgage rates are meaningfully
Represented as Legacy Mortgage and Investment Corporation in the State Of California.
