Home sales rise in November, ending 5-month skid: ‘No doubt’ hit low point

Sales of previously occupied US homes rose in November, ending a five-month skid, as easing mortgage rates encouraged homebuyers.

Existing home sales rose 0.8% last month from October to a seasonally adjusted annual rate of 3.82 million, the National Association of Realtors said Wednesday.

That tops the 3.78 million sales pace economists were expecting, according to FactSet.

Sales were still down 7.3% compared with November last year.

The pickup in sales helped push up home prices for the fifth month in a row compared with a year earlier.

The national median sales price rose 4% from November last year to $387,600.