The International Business Times Newsletter Sign Up offers an update on the current events in business across the world. November home sales in the United States had slipped to the lowest level in a year, with a seasonally adjusted annual rate of 590,000, according to the Commerce Department. Median sales price of the new properties had increased, reaching $434,600. While the slowdown reflects elevated mortgage rates experienced earlier in the year, the situation has since changed. Rates have since decreased, hitting 6.7%, according to Freddie Mes. This move enables potential homebuyers to get back into the market with the persistent lack of stock of existing homes making them turn towards new houses.
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