Existing home sales picked up an unexpected 1.5 percent to a 5.26 million annualized pace in October, according to data released Nov. 20 by the National Association of Realtors (NAR). It was the fastest rate for existing home sales since September of last year.
The 'Santa Claus rally' – a run-up in markets spurred by holiday spending and hiring – is a long-held stock market myth. There are countless theories about how holiday sales correlate to the economy and stock market, but the average investor shouldn’t make any major shifts in their investment plan based on them.
New home sales in the US fell 8.1 percent in June, signaling that real estate is still a weak spot in the US economy. June US new home sales are also 11.5 percent below June 2013 levels.
Monday, the US Census Department released its monthly New Residential Home Sales Report for December from November but still rising above the level seen in December 2012.
Existing home sales rose 1 percent in December but fell on a year-over-year basis, according to the latest data from the National Association of Realtors (NAR).
New home sales jumped 7.9 percent in July and 12.6 percent above the level seen in August 2012, according to the US Census Department.