/ Source: Reuters
Sales of existing U.S. homes decreased in November, falling 4.6 percent, the National Association of Realtors said on Tuesday.
Sales of previously owned homes fell to a seasonally adjusted annual rate of 6.06 million units from a 6.35 million unit clip the month before. The number was lower than expectations of analysts polled by Reuters who forecast a sales pace of 6.30 million homes.
"We peaked in September. You can't sustain the torrid pace we were on, so we needed to come down," said David Lereah, chief economist for the realtors' group. "But we're down to still very lofty levels."
