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Home sales post first annual drop in 29 months
Source: USA Today
Existing home sales fell 4.3% in November but a tight supply of homes on the market kept prices rising from last year, the National Association of Realtors said Thursday.
Sales dropped for the third straight month to a seasonally adjusted annual rate of 4.9 million from 5.12 million in October.
That was 1.2% off the November 2012 pace and the first time in 29 months that sales were below year ago levels.
Economists' median forecast was for a November rate of 5.1 million, according to a survey by Action Economics.
Read more: http://www.usatoday.com/story/money/business/2013/12/19/existing-home-sales-november/4115407/