Existing Home Sales Revised Dramatically Down, Housing Starts Slightly Up

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The National Association of Realtors revised its existing home sales data back to 2007 and the downturn is striking. Clearly, home sales were substantially lower after the housing crash than previously assumed. Contrasted with the extremely low housing starts of the past few years it seems that few people are buying or building homes. November housing starts were at a seasonally adjusted annualized rate of 685,000, a 9.3% increase over October. Existing home sales were at seasonally adjusted annual rate of 4.42 million in November.

-From the National Association of Realtors and Calculated Risk

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