The Strategist

US secondary market home sales rise worse than forecast in November

12/23/2021 - 08:40

Number of home sales and purchases on the US secondary market rose 1.9% in November compared to October to 6.46 million, according to a report by the National Association of Realtors (NAR). This is slightly worse than forecast.

A McCarron
A McCarron
Analysts polled by DailyFX had expected a figure of 6.52 million compared to October's level of 6.34 million.

Sales of single-family homes in the U.S. in November amounted to 5.75 million, increasing on a monthly basis by 1.6%, and on an annual basis - decreasing by 2.2%. The national average value of such homes rose 14.9% year over year to $362,600.

The number of condominium and flat sales in November stood at 710,000, up 4.4% from October. In annual terms, the indicator remained unchanged. The average price of such real estate rose by 4.4% year on year to $283.2 thousand.

The release notes that the average price of all types of housing in November rose by 13.9% year-on-year.

According to the association, the share of distressed properties on the market was less than 1 per cent. It has not changed since last September.