Existing Home Sales Post Biggest Increase in Nearly Three Years
Portfolio Pulse from
Existing home sales in the US increased by 1.6% month over month in October, marking the largest rise since January 2022, according to Redfin. This also represents a 1.7% year-over-year increase, the first since November 2021.
November 15, 2024 | 1:15 pm
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Redfin reported a significant increase in existing home sales, with a 1.6% month-over-month rise in October, the largest since January 2022. This could positively impact Redfin's revenues and stock price.
The increase in existing home sales suggests a potential rise in Redfin's transaction volumes and revenues, which could positively impact its stock price. The data indicates a recovery in the housing market, benefiting Redfin as a real estate brokerage.
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