US Existing-Home Sales Tall To 4.9M Pace, 3rd Straight Decline And Weakest In Nearly A Year

WASHINGTON – The number of people who bought existing U.S. homes in November declined for the third straight month. Higher mortgage rates have made home-buying more expensive, while the lingering impact of the October government shutdown may have deterred some sales.

The National Association of Realtors says home sales fell 4.3 percent to an annual rate of 4.90 million. That's the weakest pace since December 2012, and the first time since April that the pace has slipped below 5 million.

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