The National Association of REALTORS® (NAR) reports that Existing Home sales in November rose 1.9% from October to an annual rate of 5.32 million units versus the 5.20 million expected. Gains were seen in the Northeast, Midwest and South with losses in the West. Existing Home Sales include transactions on single-family homes, townhomes, condominiums and co-ops. Sales were down 7% from November 2017.
Inventories of previously owned homes for sale on the market is at 3.9 months, up from 3.5 a year ago. Lawrence Yun, NAR’s chief economist, says two consecutive months of increases is a welcomed sign for the market. “The market conditions in November were mixed, with good signs of stabilizing home sales compared to recent months, though down significantly from one year ago. Rising inventory is clearly taming home price appreciation.”
The U.S. Transportation Security Administration (TSA) reports that more travelers will be flying this holiday season than last year. The TSA says that between December 19 and January 5, 41 million passengers will travel through security screening checkpoints nationwide, an increase of 6% from 2017. The TSA recommends that travelers arrive extra early to check in and get through the security screening process. “We have experienced several record-breaking travel days this year, to include the busiest travel day this past Thanksgiving, so we are prepared for a very busy period leading up to Christmas and through the New Year holiday,” said TSA Administrator David Pekoske.
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