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US Home Sales Declined in November after Five Monthly Gains

Published by

December 5, 2024
(GMT+2)

Homes sales dropped in November as the supply of properties for sale went down to a new low, the latest indication of robust economic momentum in the middle of the year is easing in 2020’s last months.Existing-home sales dropped 2.5% in November from October to a seasonally regulated annual growth rate of 6.69 million, the National Association of Realtors stated on Tuesday. It was the first decline in six months. The November sales of previously owned homes, which make up for most of the housing market, increased 25.8% from the previous year.Separately, US consumers’ outlook on the economy dimmed in December as coronavirus cases raised nationwide, the Conference Board, a private research firm, said Tuesday.Meanwhile, economic growth during the months of summer was overlooked a bit more to a 33.4% annual pace, the Department of Commerce said on Tuesday. The gain came after the economy decreased during the initial half of the year.Economists predict a slower pace of growth in the last three months of 2020.

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