Sales of existing homes hit highest level in almost 11 years

Home Sales at 11-Year High Stateside

Sales rose 11.46 percent in November over the same month past year, with Realtors selling 1,576 homes last month, according to Maine Listings, a statewide multiple listing service and a subsidiary of the Maine Association of Realtors. This is consistent with the fall in inventories, which dropped lower to 1.72 million on a seasonally adjusted basis, the lowest level since the inception of the series.

Berson said he expects existing sales to climb 1.6 percent to 5.54 million units this year, which would be the strongest pace since 2006. This marks the 69th straight month of year-over-year gains.

The strong demand for buying homes is a sign of an increasingly vibrant economy after a steady, eight-year expansion.

Lady Gaga confirms Las Vegas residency: This is 'a new era'
I'll tell you exactly what I told my MGM and Park Theater partners - you can count on this performer always for one thing... Mother Monster confirmed the news across her social media platforms Tuesday.

On the surge last month, he said, "Presumably, part of this leap in sales is a catch-up after closings were delayed by the hurricanes, but the lagged mortgage applications numbers now suggest sales will rise even further in the early part of next year, perhaps reaching six million", he said in a client note.

Looking at other details in the report, total months of supply dropped to 3.4, lowest in the history of the series dating back to 1999. Yet the demand has done little to resolve an increasing vulnerability of the US real estate market as the number of listings has been declining on a yearly basis for two-and-a-half years.

The statewide median sales price grew by 5.8 percent in November compared to last November.

US Vice President Mike Pence delays Middle East trip
The move outraged Palestinians, and Mahmoud Abbas, the Palestinian president, canceled a meeting scheduled with Mr. Susan Collins, R-Maine, announced her support for the bill.

On tax reform, NAR President Elizabeth Mendenhall said following congressional clearance of the tax overhaul package that there is good news for homeowners can because they can count on the mortgage interest deduction and the state and local tax deduction.

"As evidenced by a subdued level of first-time buyers and increased share of cash buyers, move-up buyers with considerable downpayments and those with cash made up a bulk of the sales activity last month", Yun said. Regionally, sales in the Northeast were up 6.7 percent and the regional median price rose 4 percent to $273,600.

With supply tightening, the median house price increased 5.8 percent from a year ago to $248,000 in November.

'Ocean's 8' Teaser: Is George Clooney's Character Dead?
Finally, our first look at footage from the all-women heist film, Ocean's 8 , is making the rounds on the internet. Just days after the release of the film's first poster , the first teaser for Ocean's 8 has officially dropped .

At November's sales pace, it would take a record low 3.4 months to exhaust the current inventory, down from 3.9 months in October. The median sales price was up 4.24 percent to $200,000.

Related news:

Hot News

isis-killer-beheading-video-story-top The First Sketches Of Meghan Markle's Potential Royal Wedding Dress!
Dec 21, 2017 - 00:23
And Princess Diana asked couturiers David and Elizabeth Emmanuel to design her gown in 1981. We can't wait to see what she chooses to wear down the aisle in May 2018.

isis-killer-beheading-video-story-top The Public Pulse: A frightening ban on words
Dec 20, 2017 - 01:03
The Post did not identify its source but said , "Other CDC officials confirmed the existence of a list of forbidden words". And the Trump administration has been systematically eliminating LGBT people from federal concerns.

isis-killer-beheading-video-story-top European Union will probe retailer IKEA's Dutch tax deals
Dec 20, 2017 - 00:54
This entitles the IKEA shops to use the IKEA trademark, and receive know-how to operate and exploit the IKEA franchise concept. Holding paid no corporate tax in Luxembourg because of Luxembourg tax rules in place at the time.

isis-killer-beheading-video-story-top Virgin Hyperloop One raises $50m, puts Branson in the driver's seat
Dec 20, 2017 - 00:41
But among publicly released hyperloop tests, the previous record holder was Elon Musk , with a speed of 220 miles per hour . Earlier this year, the company announced that it plans to have working hyperloop systems deployed by 2021.

Google to activate Chrome's native ad blocker on February 15
Dec 20, 2017 - 00:39
However, it will block some of the most annoying ads you're likely to encounter while using the internet. Site owners can then submit their sites for a review after any violating ads have been removed.

isis-killer-beheading-video-story-top How someone stole a family's Christmas Grinch
Dec 20, 2017 - 00:39
Video posted to Facebook by TeDera Dwayne Graves II showed the interaction between his little brother and a police officer. When the boy arrived, officers surprised him with the Grinch in the back of a police vehicle .

isis-killer-beheading-video-story-top NASCAR Drivers Danica Patrick, Ricky Stenhouse Jr.'s Break Up Confirmed
Dec 19, 2017 - 08:41
TMZ reports that Patrick said in July she "was ready yesterday" to be engaged, but that Stenhouse Jr. had not proposed yet. Neither driver could be reached for comment Monday, and Patrick's spokeswoman said the two had requested privacy.

isis-killer-beheading-video-story-top British Columbia bans grizzly bear hunting
Dec 19, 2017 - 08:40
The province said staff will also be implementing recommendations made in a report released in October on grizzly bear management. Throughout 2016 alone, 235 grizzly bears were killed in B.C, 30% of which were female. "We couldn't be more thrilled".

isis-killer-beheading-video-story-top Jonghyun, lead singer of K-pop group Shinee, dies
Dec 19, 2017 - 08:38
SHINee was formed in 2008 by SM Entertainment and had five members: Jonghyun, Onew, Key, Minho and Taemin. In South Korea, it is known as a common way of suicide as the substance releases carbon monoxide.

isis-killer-beheading-video-story-top SBPD: Stolen fire gear recovered, returned to firefighters working Thomas Fire
Dec 19, 2017 - 08:38
That involves lighting fires from a chopper to burn off fuel in a controlled manner before the Thomas Fire flames reach that area. The Santa Barbara Sheriff's Office announced the lifting of evacuation orders for portions of the county on Monday night.

isis-killer-beheading-video-story-top Sri Lanka's Upul Tharanga completes 1000 runs in 2017
Dec 19, 2017 - 08:36
Washington Sundar, too, picked up his first worldwide wicket on Wednesday, when he bowled out Lahiru Thirimanne on Wednesday. Dhawan added 135 for the second wicket with Shreyas Iyer and an unbroken 70 with Dinesh Karthik, who finished on 26 not out.

isis-killer-beheading-video-story-top Egypt Regrets UN Failure To Pass Egypt-Drafted Resolution On Jerusalem
Dec 19, 2017 - 08:36
And it would have called for intensified and accelerated worldwide and regional efforts to achieve Middle East peace. Haley was adamant that "the United States will not be told by any country where we can put our embassy".

isis-killer-beheading-video-story-top Vladimar Putin thanks President Trump for CIA's help in stopping terror attacks
Dec 18, 2017 - 00:16
Returning militants from Syria pose a real threat to Russian Federation , the head of the FSB was quoted as saying on Tuesday. This is the second time in less than a week that two of the world's most powerful leaders have exchanged messages of praise.

isis-killer-beheading-video-story-top The Observer view on net neutrality
Dec 18, 2017 - 00:13
Scrapping net neutrality could make the already uncompetitive U.S. broadband market even less competitive. Take for example Comcast, since they own NBCUniversal.

isis-killer-beheading-video-story-top BlackBerry ends monthly security updates for its PRIV
Dec 18, 2017 - 00:12
Third, should a critical vulnerability be exposed we will engage our partners as needed to develop and deliver necessary patches. The Priv came with an all-plastic build but was characteristic BlackBerry in that it came with a hardware 4-row QWERTY keyboard.