National Association of Realtors

U.S. home sales tank in November

Home sales plunged sharply in November, as buyers faced rising prices and new regulations that might have delayed some closings.

The National Association of Realtors said Tuesday that sales of existing homes collapsed 10.5% to a seasonally adjusted annual rate of 4.76 million. It was the weakest pace in 19 months.

The setback follows solid gains in real estate for much of 2015. Sales of existing homes are on track to rise roughly 5% for the entire year. But the introduction of a new disclosure form in October likely prevented many homebuyers from closing on sales in November. Home values are also rising at more than double the pace of wages.

The median home sales...

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