Yahoo! News - Sales of Existing Homes Hit Record High
Sales of previously owned homes in November posted their best month on record as low mortgage rates enticed buyers to live the American dream.
The National Association of Realtors reported Wednesday that sales, at a seasonally adjusted annual rate, totaled an all-time monthly high of 6.94 million units, representing a 2.7 percent increase from October's pace. While some other recent reports raised questions as to whether the high-flying housing market might be losing a bit of altitude, Wednesday's report suggested the sector is still humming along.
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