NAR: Existing Home Sales Rose 1.9% in Nov.
It’s the third straight month for increased sales. However, prices jumped 13.9% higher year-to-year as the inventory of for-sale homes decreased 13.3%.
Mortgage Rates End 2021 Slightly Higher: 3.11%
One week earlier, a 30-year, fixed-rate mortgage averaged 3.05%; a year ago, it averaged 2.67%. Most economists predict more slight rises in 2022.
Fla.’s Nov. Sales: Single-Family Up, Prices Up
Florida Realtors: Condo sales dropped slightly year-to-year, single-family home sales and pending sales rose in Nov. Prices rose more than 19% for both.
Case-Shiller: Home Prices Surge 18.4% in Oct.
The 20-city home price index climbed 18.4% in Oct. year-to-year – though the pace of that rise is down a bit from Sept.’s 19.1% year-over-year increase.
UCF: Housing Will Drive Economic Growth in 2022
Fla. job growth will outpace the nation, says UCF, and the housing industry – an “albatross” in the Great Recession – will “be an important economic driver.”