ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Economy

November Home Sales Down 10.5 Percent

December 22, 2015
Reading Time: 1 min read

Existing home sales fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November according to the National Association of Realtors (NAR), the lowest rate since April 2014. Existing home sales are now 3.8 percent below a year ago, the first year over year decline since September 2014. The NAR report suggests that November’s decline may be an anomaly as the industry adjusts to the new Know Before You Owe Rule.

“It’s possible the longer timeframes pushed a latter portion of would-be November transactions into December,” says NAR Chief Economist Lawrence Yun. “As long as closing timeframes don’t rise even further, it’s likely more sales will register to this month’s total, and November’s large dip will be more of an outlier.”

Sales of existing homes dropped across all regions, falling 15.4 percent in the Midwest, 13.9 percent in the West, 9.2 percent in the Northeast, and 6.2 percent in the South.

Median home prices increased 6.3 percent to $220,300, up from $207,200 in November 2014, marking the 45th consecutive month of year-over-year increases. Total housing inventories fell 3.3 percent at the end of November to 2.04 million existing homes.

“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales. However, signed contracts have remained steady in recent months, and properties sold faster in November. Therefore it’s highly possible the stark sales decline wasn’t because of sudden, withering demand.”

Distressed sales rose 3 percentage points to 9 percent in November. Seven percent of November sales were foreclosures, and 2 percent were short sales.

Read the NAR release.

ADVERTISEMENT
Tags: Existing home sales
ShareTweetPin

Related Posts

CFPB releases mortgage servicing proposal, overhauls loss mitigation framework

ABA, associations seek clarity about Fannie, Freddie credit scoring change

Mortgage
July 11, 2025

The recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options for mortgages is a promising first step in creating a scoring system to better serve creditworthy Americans, but there remain several questions about how...

ABA Data Bank: Commodity inflation makes Fed’s job harder

ABA DataBank: Copper prices rise on tariff announcement

Economy
July 11, 2025

With the Trump administration announcing a 50% tariff on copper imports starting August 1, copper futures prices surged in response.

ABA donates to Texas flood relief efforts, urges bankers to contribute

FDIC issues regulatory relief guidance for Texas

Compliance and Risk
July 11, 2025

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas recently affected by severe storms and flooding.

BIS drafts guidance for central banks on AI adoption

BIS releases report on connections between banks and nonbanks

Compliance and Risk
July 11, 2025

Differences between regulations for banks and those for nonbank financial intermediaries may have created incentives to shift business activities to the NBFI sector, so bank supervisors should apply “close scrutiny” to such interactions, according to the report.

Regulators take issue with discrimination definition in proposed appraisal standards

HUD reverses Biden-era policies on appraisal review

Compliance and Risk
July 11, 2025

HUD eliminated several of the core policies adopted by the Property Appraisal and Valuation Equity task force, an interagency group of 13 federal agencies formed during the Biden administration to address alleged discrimination in the appraisal process.

ABA donates to Texas flood relief efforts, urges bankers to contribute

ABA donates to Texas flood relief efforts, urges bankers to contribute

Community Banking
July 10, 2025

ABA will donate $10,000 to Texas Bankers Foundation to assist with immediate disaster response and recovery following the recent catastrophic flooding in Central Texas.

NEWSBYTES

ABA, associations seek clarity about Fannie, Freddie credit scoring change

July 11, 2025

ABA DataBank: Copper prices rise on tariff announcement

July 11, 2025

FDIC issues regulatory relief guidance for Texas

July 11, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Breaking down the bank-related provisions in the big budget bill

July 10, 2025

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.