Existing home sales saw unexpected growth recently, supported by our weekly Housing Market Tracker data, indicating a shift in national home prices and demand.
The NAR reports a total of existing home sales improved 4.8% in November, which demonstrates a consistent recovery from the market's earlier challenges.
Despite declining housing inventory typical for the season, improvements over 2022's depressed levels are encouraging, as active listings drop from 1.37 million to 1.33 million.
My analysis of purchase applications indicates a clear trend; with around 12 to 14 weeks of positive data, we anticipate boosted sales in response.
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