Seldom do existing home sales fall 6.4% in a month, but that was what happened in December. National Association of Realtors economist Laurence Yun called the drop a reflection of “consumer search processes and contract signing activity in previous months when mortgage rates were higher than today,” and noted that the housing market could be poised for a spring rebound. Year-over-year, the NAR noted, resales were down 10.3%. The median existing home sale price was $253,600 last month, up 2.9% from December 2017.1
1 – bankingjournal.aba.com/2019/01/existing-home-sales-dipped-6-4-percent-in-december/ [1/22/19]