Existing Home Sales Dip More Than Expected
November sales of pre-owned homes dipped lower than expected and prior monthâs readings according to the National Association of Realtors (NAR). Analysts expected existing home sales to slow to a seasonally-adjusted annual rate of 5.30 million sales, which was based on Octoberâs reading of 5.32 million sales. Instead, Novemberâs reading dropped to 4.76 million sales. Novemberâs drop represented a decline of 10.50 percent drop in existing home sales month-to-month; existing home sales were 3.80 percent lower year-over-year.