Existing home sales in the United States are picking up momentum as prospective buyers unwillingly accept elevated mortgage rates while sellers attempt to cash in on high prices.
Based on real estate brokerage Redfin’s seasonally adjusted annual rate (SAAR) estimates, existing home sales rose 0.7 percent in November from the previous month, according to a Dec. 18 report from the company. SAAR does not reveal the exact number of homes but rather an estimate based on a calculation if the number of homes sold every month was equivalent to that of November.
