News Summary: US home sales surge to 3-year high
SALES RISE: U.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates. The National Association of Realtors said sales rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November.
BEST IN FIVE YEARS: Previously occupied home sales are on track for their best year in five years. November's sales were the highest since November 2009.
MORE GROWTH: The number of homes available for sale fell to nearly an 11-year low in November. That's pushing up prices and will likely encourage more home building next year, which should boost growth.
Business Photo Galleriesview all
- 21543Oklahoma tornadoes: The 'Big Dog,' the little boy and the hug that triumphs over tragedy
- 10852Oklahoma tornadoes: Woman meets the military officer who shared the clothes off his back
- 8707Oklahoma tornadoes: Thunder reverses the role, takes a turn at cheering on the community
- 8666Finding Addyson – One family's struggle in the Moore tornado
- 8648Hobby Lobby argues case before federal judges
- 7837Blake Shelton's "Healing the Heartland" televised tornado benefit set for Wednesday at Chesapeake Energy Arena
- 7718Story behind the photo: Family members describe desperate search for one another after EF5 twister