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US home sales rise unexpectedly in Nov

However, existing home sales tumble 7 per cent from a year ago, the largest annual drop since May 2011

Published Thu, Dec 20, 2018 · 09:50 PM

Washington

US HOME sales unexpectedly rose in November, but recorded their biggest annual decline in 7-1/2 years, adding to other data that has painted a grim picture of the housing market.

The National Association of Realtors said on Wednesday existing home sales increased 1.9 per cent to a seasonally adjusted annual rate of 5.32 million units last month.

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