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Sales of existing homes dropped in November.
The decrease from October to November was 6.1 percent, with the market faltering in advance of the slower winter months.
Sales of previously owned homes have hit their lowest level since May, according to a Forbes article.
Despite the dip, “November was the second month in a row that the pace of previously owned home sales was higher by 2.1 percent than in the prior year,” the article says.
The decrease in home selling came even though interest rates were low.
“Fewer people bought homes last month despite interest rates being at their lowest levels of the year,” says Lawrence Yun, the National Association of Realtors’ chief economist, in the article.
To read the full article, click here.
