Here Come Existing Home Sales...

Economists estimate the pace of sales fell 1.1% in November to an annualized rate of 5.20 million.

"The share of distressed sales and investor buying in the existing homes market has trended lower, but the share of first-time buyers hasn?t picked up much, suggesting that repeat buyers are helping propel sales, which have climbed above the 5.00mn mark since June," Nomura economists noted. "The pending home sales index, which tends to lead existing sales by a couple of months, declined by 1.1% in October, after rising by 0.6% in September."

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