Home sales hit slowest pace in 18 years.


According to the National Association of Realtors, “Sales of existing homes plunged 8.6% in November to a seasonally adjusted annual rate of 4.49 million, from a revised 4.91 million rate in October. … It was the slowest pace in nearly 18 years.” The Commerce Department also reported that sales of new single-family homes also fell in November, to the weakest levels since 1991.”