Existing Home Sales Collapse - NBC4 Washington

Existing Home Sales Collapse

Suffer biggest drop in 40 years

    Winter Olympics PyeongChang 2018 Medal Count
    Country
    Total
    1
    Norway
    13141138
    2
    Canada
    1181029
    3
    Germany
    138728
    processing...

    NEWSLETTERS

    Mother of Five Scared Straight After Heart Attack in her 40s
    AP
    This house has fallen a considerably more than the national average of 8.6 percent.

    A real estate group says sales of existing homes plummeted far more than expected last month as buyers reeled from October's big plunge on Wall Street. The median sales price fell by the largest amount on record.

    The National Association of Realtors said Tuesday that sales of existing homes fell 8.6 percent to an annual rate of 4.49 million in November, from a downwardly revised pace of 4.91 million in October.

    Sales had been expected to fall to a pace of 4.9 million units. according to Thomson Reuters.

    The median sales price plunged 13.2 percent in November to $181,300, from $208,000 a year ago. That was the lowest price since February 2004 and the biggest year-over-year drop on records going back to 1968.