November existing-home sales and prices maintain uptrend

Existing-home sales continued to improve in November with low inventory supply pressuring home prices, according to the National Association of Realtors.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November from a downwardly revised 4.76 million in October, and are 14.5 percent higher than the 4.40 million-unit pace in November 2011.  Sales are at the highest level since November 2009 when the annual pace spiked at 5.44 million.