Existing Home Sales Up in November


Sales of previously-owned homes inched higher in November -- the first increase in nine months. However, the sales increase was accompanied by a dip in prices.

The National Association of Realtors says the increase of 0.4 percent last month took resales to an annual rate of 5 million homes. The NAR also revised its October sales number to 4.98 million houses from its original estimate of 4.97 million.

At the same time, the median price of an existing home dipped 3.3 percent to $210,200 in November from $217,300 a year ago. The median price this past October was $206,900.

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