Existing home sales fall in Pinal County, across nation

Pinal CountyStaff Reports | Casa Grande Dispatch

Home sales plunged sharply in November across the country and also dropped in Pinal County as buyers faced rising prices and new regulations that might have delayed some closings.

The National Association of Realtors said Tuesday that sales of existing homes nationwide collapsed 10.5 percent to a seasonally adjusted annual rate of 4.76 million. It was the weakest pace in 19 months.

The setback follows solid gains in real estate for much of 2015. Sales of existing homes are on track to rise roughly 5 percent for the entire year. But the introduction of a new disclosure form in October likely prevented many homebuyers from closing on sales in November.

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