Existing-Home Sales Decline in November, but Strong Price Gains Continue

  • NAR released a summary of existing home sales data showing that overall existing home sales fell by 4.3 percent from October to November 2013, and are 1.2% percent lower than November 2012. This was the third straight month of declines; all regions observed a decrease in sales from October.
  • The national median existing-home price for all housing types was $196,300 in November, up 9.4 percent from November 2012. All regions showed growth in prices, but the Midwest and South regions are showing the most deceleration in price growth.
  • November’s inventory figures fell slightly from October, but are up 5.0% from a year ago. Months’ supply is up slightly in all regions, but the West is dealing with the most pressure on inventory.
  • Though sales were down again this month, there is still a projection of sales above 5 million, which would be the strongest sales figure since 2007.
  • See the full NAR Existing Home Sales press release here and data tables here.
  • Find a full graphical summary of the data here.