Well, Rick, existing home sales in November rose 0.5% to a seasonally adjusted annualized rate of 4.13% million units. That is right along expectations. Sales down 1% from November of last year.Now, this count is based on closing. So, contracts likely signed in September and October when mortgage rates initially came down a little bit but then stayed in a very tight range. The headline on this report is supply.It is coming down again. We've reported on more sellers delisting their homes. There were 1.43% 43 ...

Core Insights - Existing home sales in August were flat at a seasonally adjusted annualized rate of 4 million units, down 0.2% from July but up 1.8% year-over-year [1] - The market was expecting a larger decline of 1.5%, with sales strongest in the Midwest and weakest in the Northeast [2] - Supply of homes for sale decreased by 1.3% from July, although it remains up 11.7% year-over-year, indicating a shift in market dynamics [2][3] Sales and Pricing Trends - The median home price in August was $422,600, reflecting a 2% increase year-over-year, marking the 26th consecutive month of annual price gains [4] - Homes are staying on the market longer, averaging 31 days compared to 26 days last year, indicating a potential cooling in buyer demand [4] - First-time buyers represent only 28% of the market, while all-cash transactions account for 28% of sales, up from 26% a year ago [4] Mortgage Rates and Economic Indicators - Current mortgage rates are around 6.37%, with minimal movement since the Federal Reserve's rate cut, which brought rates to a three-year low [5] - The market is awaiting further economic indicators to influence mortgage rates, following a recent surprise in new home sales data [6]