Existing home sales finally took a breather in November,
breaking a five month stretch of gains, often substantial ones. The National
Association of Realtors® (NAR) said that pre-owned single-family homes,
townhomes, condos, and cooperative apartments sold at a seasonally adjusted
annual rate of 6.69 million units, a 2.5 percent decline from October’s 6.85
million pace. Sales were still 25.8 percent higher than the 5.32 million rate
of sales in November 2019. Sales were slightly below the estimates of analysts polled by
both Trading Economics and Econoday. They had forecast sales of
6.71 million and 6.72 million, respectively.


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