Home Sales up in October and November

Existing home sales rose in November, ushering the housing market into its second consecutive month of increases, according to the latest report from the National Association of Realtors.

Total existing home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.9% from October to a seasonally adjusted rate of 5.32 million in November. Nevertheless, the report indicates sales are 7% below November 2017’s rate.

NAR Chief Economist Lawrence Yun said two consecutive months of increases is a welcomed sign for the market.