Steel Markets
December 22, 2020
Existing Home Sales Break Five-Month Streak
Written by Sandy Williams
Existing home sales fell for the first time in five months, dipping 2.5 percent to a seasonally adjusted annual rate of 6.69 million. Sales fell or held steady in all regions although remained significantly higher on a year-over-year basis.
“Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year’s levels,” said Lawrence Yun, chief economist, National Association of Realtors. “Given the COVID-19 pandemic, it’s amazing that the housing sector is outperforming expectations.”
