Existing home sales came in a little lower than expected in November, but it was still the third consecutive gain. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condos, and cooperative apartments were at a seasonally adjusted annual rate of 6.46 million units, a 1.9 percent increase over the 6.340 million sales in October. This left sales 2.0 percent below the 6.59 million annualized transactions in November 2020. Single-family home sales were at a seasonally adjusted annual rate of 5.75 million in November, up 1.6 percent from the prior month but 2.2 percent behind the rate a year earlier. Existing condominium and co-op sales came in at a seasonally adjusted annual rate of 710,000 units, up 4.4 percent from 680,000 in October and even with the level a year earlier.
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