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U.S. existing home sales rise to near 10-year high

U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in low interest rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
Source: Yahoo Finance

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