Market Update: November’s existing home sales slump 4.3%

This morning’s existing home sales report showed a 4.3 percent drop in November. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“This month’s existing sales report marks the third month of declines. Although that number may sound disheartening, consumers can find solace in the Fed’s decision to taper its bond purchases yesterday as it is a vote of confidence in the improving economy. Expect another strong spring home selling season once homebuyers come out of hibernation.”

If you would like to talk to someone at Quicken Loans, please contact us.