My New Blog

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.


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


My Favorite Blogs:

Sites That Link to This Blog:

Blue Door Mortgage

NMLS Mortgage Broker 2218

440 Harvard Street
Brookline, MA 02446