“No One” Buying or Selling Existing Homes

“No One” Buying or Selling Existing Homes

"No one" is a relative term when it comes to economic data.  There are actually about 4 million people per year buying existing homes based on the annualized and seasonally adjusted pace in the latest installment of the data released today for the month of November.  But relative to most of the past 25 years, this is about as low as it gets. Officially, the National Association of Realtors (NAR) reported existing sales at a pace of 4.09 million, well off the median forecast of 4.20 million and even farther below the previous reading of 4.43 million.  Sales hit their most recent peak in January and have declined every month since then. After more than a year of explosive growth (in both sales and prices) following by the fastest rate spike to the highest levels in decades, it's no su