By Jann Swanson | Mortgage News Daily
Existing home sales finished out 2016 with a generally expected decline. Still, the National Association of Realtors® (NAR) said today that 2016 overall was the best year for existing home sales in a decade.
Sales of existing single-family homes, townhomes, condominiums, and co-ops were at a seasonally adjusted rate of 5.49 million in December. This was down 2.8 percent from an upwardly revised (from 5.61 million) 5.65 million units in November. The month’s slide brought sales down to only 0.7 percent higher than they were a year ago compared to a 15.4 percent year-over-year increase in November.
