Loan Modification

Existing Home Sales Inordinately High; +44% Year Over Year

By Implode-Explode Heavy Industries

Here is a sign that things are artificially stimulated: Abnormally high Existing Home Sales for November 2009:

Existing-home sales ? including single-family, townhomes, condominiums and co-ops ? rose 7.4% to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 % higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.

Full post as published by Mortgage Lender Implode-o-Meter on December 22, 2009 (boomark / email).