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.
