By David Urani
Existing home sales for November came in at an annual rate of 4.68 million units, which is a 5.6% increase over last month, and it fell roughly in line with the 4.75 million consensus estimate. Seeing this and other recent home sales data it appears as though home buying sentiment is generally improving, although it is just crawling off the canvas now. When looking at the non-seasonally adjusted numbers (353,000), home sales right now are just about as bad as ever as we trudge through the winter months. This is nothing to get excited about, but the good thing is its not worsening.
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