Existing Home Sales Sees Surge, Highest Since 2006

Sales of existing homes were at their strongest pace in almost 11 years in November.

The National Association of Realtors reports that sales were up 5.6%, for a seasonally adjusted annual rate of 5.81 million.

It's the strongest rate since 2006.

Economists credits fast economic growth, record stock market highs, and job gains with feeding demand for homes.

Prices are up too as the national median price for an existing home in November was $248,000.


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