Sales of previously owned U.S. homes surged in November, but revisions to data for the last four years showed the housing market recession was deeper than previously thought, NAR (National Association of Realtor)s' Data revealed today.
Sales of previously owned homes rose for the second month, to an annualized rate of 442,000 homes sold in November - an increase of 4% from October. However, the October number released last month was revised lower by 14.5% from 495K to 425K.
In a healthy market, these sales would be around 600K. So you know how much existing home sales are struggling.
On top of that, NAR lowered the average annual sales of existing homes from the year 2007 to 2010 by 14.3%. That indicates that US housing turmoil was much severe than we had expected.
And the median price of existing home was $164,200 in November, down 3.5 percent from a year ago.
Considering that, the US Housing Market is still in distress and has a long way to go. And it is hard to sell your property in these circumstances.
However, there is a way to Sell Your House for Cash FAST. For more info, please visit our main website.
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