NAR: National home sales lose momentum in November

After hitting their highest level of the year, existing-home sales slid in November as housing supply showed some tightening, according to the National Association of REALTORS. Total existing-home sales, including single-family homes, townhomes, condominiums and co-ops, fell 6.1 percent to a seasonally adjusted annual rate of 4.93 million in November from a downwardly-revised 5.25 million in October. Existing-home sales in the Northeast declined 4.2 percent, said NAR, but are still 4.6 percent above a year ago.

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