US new home sales unexpectedly increase in November for second straight month

On an annual basis, new home sales are still down 15.3%. There were about 461,000 new homes on the market at the end of November, the report shows, a slight decrease from the previous month. (Photo by JIM WATSON/AFP via Getty Images / Getty Images) Combined with high home prices, the rapid rise in borrowing costs has pushed many entry-level homebuyers out of the market Sales of previously owned homes tumbled 7.7% in November from the prior month to an annual rate of 4.09 million units, according to new data released Wednesday by the National Association of Realtors (NAR).

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