Sales of previously owned homes rise in November

WASHINGTON - Sales of previously owned homes edged up in November, the third increase in four months after a dismal summer for home-buying.

The National Association of Realtors says people bought previously owned homes at a seasonally adjusted annual rate of 4.68 million units last month, a gain of 5.6 percent from October.

The increases follow the worst summer for home sales in more than a decade. Even with the gains, sales were about 10 percent below the 5.2 million sales pace that analysts consider a healthy pace for housing.

The national median price for a home sold in November was $170,600.

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