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Rules changes slow home sales

December 24th, 2015 4:28 PM by Jonathan White

Sales of Existing U.S. Homes Slump on Delayed Contract Closings

Sales of previously owned homes slumped in November to the lowest level since April of last year as a change in industry rules lengthened the amount of time it took buyers to close on a deal.

Closings on existing homes, which usually take place a month or two after a contract is signed, declined 10.5 percent to a 4.76 million annual rate after a revised 5.32 million pace in October, the National Association of Realtors said Tuesday. November sales were weaker than the most pessimistic forecast in a Bloomberg survey.

 http://www.bloomberg.com/news/articles/2015-12-22/sales-of-existing-u-s-homes-slump-on-delayed-contract-closings


 

Posted by Jonathan White on December 24th, 2015 4:28 PM

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