A real estate group says sales of existing homes plummeted far more than expected last month as buyers reeled from October’s big plunge on Wall Street. The median sales price fell by the largest.

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New York (AFP) – Sales of existing US homes fell sharply in November, a decline likely due in part to delays from new mortgage disclosure rules, the National Association of Realtors said Tuesday.

"A correction was due." Pantheon Macroeconomics Existing home sales plunged in November.. According to the NAR, the pace of sales fell by 6.1%, to an annualized rate of 4.93 million units.

From the NAR: Existing-Home Sales Decline in Economic Uncertainty Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 8.6 percent to a seasonally adjusted annual rate of 4.49 million units in November from a downwardly revised level of 4.91 million in October, and are 10.6 percent below the 5.02 million-unit pace in November 2007.

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Total existing-home sales-which are completed transactions that include single-family homes, townhomes, condos, and co-ops-dropped 6.4 percent in December compared to November. Sales are now down 10.3 percent from a year ago, according to the National Association of REALTORS’ existing-home sales report, released Tuesday.

Following the small MoM blip higher in existing home sales (though dismal YoY plunge), new home sales were expected to rebound in October (after plunging 5.5% MoM in September) but instead they utterly collapsed – crashing 8.9% MoM.

November existing home sales, according to the National Association of Realtors, plunged 10.5% from October to November. Note that this metric, as calculated, is the NAR’s "seasonally adjusted, annualized rate (SAAR)" metric. The point here is that the plunge in sales can’t be blamed on seasonality or the weather.

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Investing.com – U.S. existing home sales fell sharply in November to hit the lowest level in 19 months, dampening optimism over the health of the housing market, industry data showed on Tuesday.

Existing-home sales kept up momentum in November, climbing 1.9 percent to 5.32 million, the National Association of REALTORS® (NAR) reports. On an annual basis, however, sales were sluggish: 7 percent.

Toronto Home sales Plunge  NAR said existing home sales plummeted by 6.4 percent to an annual rate of 4.99 million in December after jumping by 2.1 percent to a revised rate of 5.33 million in November. Economists had.