November Sees Resurgence in Home Sales and Listings, Offering Hope for Buyers

Existing-home sales in the U.S. increased by 0.8% in November, ending a five-month decline, according to the National Association of REALTORS. Sales rose in the Midwest and South but fell in the Northeast and West. Year-over-year, all four regions experienced decreases in sales. The median existing-home price for all housing types increased by 4.0% from November 2022. Mortgage rates have recently dropped, which is expected to lead to a rebound in sales.