NAR Looks at November 2017 Home Sales Index

National Association of Realtors pic

National Association of Realtors

A Realtor with Sotheby’s International Realty in Los Angeles, California, Corey Nelson leverages more than a decade of local market experience to bring high-level services to his clients. Active in his field, Corey Nelson maintains membership in the National Association of Realtors (NAR).

In December 2017, NAR looked at some of the homebuying trends that closed out the year to determine the health of the market. The organization found that home sales in November remained basically the same as in prior months, rising 0.2 percent in the NAR Pending Home Sales Index. Even with the modest increase, however, the figure represents an increase of .8 percent from the year prior and the highest reading since June 2017.

According to NAR chief economist Lawrence Yun, the small increase is welcome news and shows signs of continued economic strength. He did note that the market is particularly tough for new buyers right now, as the supply of homes for sale is quite limited, which drives up both competition and price.