In November, there was a notable growth in existing-home sales, putting an end to a five-month streak of declines, as reported by the National Association of Realtors (NAR).
Among the major U.S. regions, sales saw an increase in the Midwest and South but declined in the Northeast and West. However, all four regions experienced a year-over-year decrease in sales.
The total number of existing-home sales, which includes completed transactions involving single-family homes, townhomes, condominiums, and co-ops, rose by 0.8% from October to reach a seasonally adjusted annual rate of 3.82 million in November. Comparatively, there was a 7.3% decline in sales year-over-year, down from 4.12 million in November 2022.