Existing Home Sales Decline in November

Washington, DC, Dec. 22, 2014 -- Home resales fell 6.1% in November to a seasonally adjusted annual rate of 4.93 million from 5.25 million in the prior month, the National Association of Realtors said.

Economists had expected a November rate of 5.18 million.

NAR chief economist Lawrence Yun said the decline was probably a one-month aberration due partly to the dramatic stock market movements in October, which may have spooked investors.

However, November's sales were up 2.1% from a year earlier.

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