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    Analysis

    December 22, 2021

    Existing-Home Sales Gain Ground in November

    Written by David Schollaert

    Existing-home sales expanded for the third straight month in November, reported the National Association of Realtors. Of the four major U.S. regions, only the Northeast didn’t register a month-on-month gain, holding flat versus October. The Midwest ticked up 0.7%, the South grew by 2.9%, while the West rose by 2.3% in November when compared to the prior month. Year to date, however, only the South region posted an increase in sales, up 1.1%.

    November sales grew 1.9% from October to a seasonally adjusted annual rate of 6.46 million. Total registered sales of 6.59 million were down, though, by 2.0% from a year ago.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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