Existing Home Sales Rise in November

The number of pre-occupied home sales rose last month, however the National Association of Realtors said that it overstated about 3.5 million sales throughout the recession. This means that the housing market remains weaker than originally thought. The National Association of Realtors said sales rose 4% last month to a seasonally adjusted rate of 4.42 million, which is below the 6 million sales a year mark that are consistent with a healthy housing market. However it is ahead of the 2008 revised sales which were considered the worst in 13 years and is on pace to exceed last year’s total.