Inventory of Homes For Sale Highest Since 1986

The National association of REALTOR released some data today and the existing home sales cooled by 1.7% to a seasonally adjusted rate of 6.97 million homes. The inventory of homes for sale was up 1.2% in November to 2.900 million existing homes for sale, representing a 5.0 supply which is the highest since 1986.

The West was hit hardest and dropped 3.7% to 1.58 million sales. View the existing home sales charts.