US Home Sales Fell More Than Expected in November

US Home Sales Fell More Than Expected in November
A home stands behind a real estate sign in a new development in York County, S.C., on Feb. 29, 2020. Lucas Jackson/Reuters
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WASHINGTON—U.S. home sales fell more than expected in November after five straight months of gains amid a shortage of properties and more expensive houses, but the housing market remains underpinned by record-low mortgage rates.

The National Association of Realtors said on Dec. 22 that existing home sales fell 2.5 percent to a seasonally adjusted annual rate of 6.69 million units last month. Economists polled by Reuters had forecast sales declining 1.0 percent to a rate of 6.70 million units in November.