Existing Home Sales Fall 6.1% in November
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iStock/Thinkstock(NEW YORK) — Fewer Americans were out shopping for homes last month.
The National Association of Realtors announced Monday sales of existing homes in the U.S. dropped 6.1 in November to a seasonally adjusted rate of 4.93 million.
“I think it has to do with the very unexpected cold front that hit the country in November and froze people in a little early and of course, we’ve got the holidays and sales are typically slow this time of year,” says Kathy Fettke, CEO of Real Wealth Network.
While sales were down from October, they have risen 2.1 percent from November of 2013.
“I don’t think it’s a sign of a weakening trend,” Fettke says of last month’s numbers. “It’s just a blip.”
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