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US existing home sales rise for 3rd straight month in November

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AFP

Washington (AFP) – Even in the face of rising prices and short supply, sales of existing homes in the United States increased for the third consecutive month in November, according to industry data released Wednesday. Sales jumped 1.9 percent compared to October, to an annual rate of 6.46 million, seasonally adjusted, the National Association of Realtors (NAR) said. Record low mortgage rates have fueled rising sales and driven prices higher, but rates are expected to rise in 2022 as the Federal Reserve moves to get a handle on inflation. The median existing-home price hit $353,900 last month, …

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