This is an increase from 27% in October but a decrease from 31% in last November. First-time purchasers have accounted for 40% of historical sales. A limited inventory, particularly in the lower price ranges of a market, can help drive prices up.
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Even so, the number of homes for sale is still 30% lower than before the pandemic. Yun said that "we are seeing sales increases because of the increase in inventory of stock". Home buyers who could buy in November benefitted from a pick-up in the available homes. NAR reported there were 1.33 Million unsold homes as of the end November last month. This was down 2.9% from last October, but an increase of 17.7% over November last. The average rate eased to a two-year low just above 6% in September following the Federal Reserve's decision to cut its main interest rate for the first time in more than four years. According to mortgage buyer Freddie Mac the rate was 6.6%.
Home sales, despite increasing in October and November, are still well below last years pace, when the numbers fell to a low of nearly 30 years. Metabolic Syndrome can affect your ability lose weight. Answering these questions helps us understand what your condition is.
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