after prior stock market crashes home sales usually rebounded within a few months.

By
Mortgage and Lending with Liberty One Lending

There was some less than positive news earlier.

The NAR reported Sales of existing homes plunged far more than expected last month as buyers recoiled from October's financial wreckage on Wall Street. The median sales price fell by the largest amount on record.

The National Association of Realtors said Tuesday existing home sales fell 8.6 percent to an annual rate of 4.49 million in November, from a downwardly revised pace of 4.91 million in October.

However, there was some positive or optimistic insight into the data.

Lawrence Yun, the normally upbeat chief economist of the Realtors group,  noted that after prior stock market crashes home sales usually rebounded within a few months.

Keep your fingers crossed!!

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