Steel Markets
January 25, 2017
Existing Home Sales Finish 2016 Softer After Record Year
Written by Sandy Williams
Existing home sales softened after an exceptional year, decreasing 2.8 percent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November. The National Association of Realtors called 2016 the best year for existing home sales in a decade. Sales for the year totaled 5.45 million, surpassing 5.25 million in 2015.
Single family home sales fell 1.8 percent in December to a SAAR of 4.88 million and condo and co-op sales fell 10.3 percent to a SAAR of 610,000 units.
