NAR Chief Economist Lawrence Yun said, "The latest weakness in existing home sales still reflects the buyer bidding process in most of October, when mortgage rates were at a two-decade high before the actual closings in November.”
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Inventory, Median Existing-Home Sales Prices Up
Inventory increased by a modest amount, pushing it past three months’ of supply, while the median existing home sales price grew for the third month in a row. Find all the details in this breakdown of new NAR data.
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