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After reporting existing home sales at their highest level in a year in the previous month, the National Association of Realtors released a report on Monday showing that existing home sales pulled back by much more than expected in the month of November.
NAR said existing home sales tumbled 6.1 percent to a seasonally adjusted annual rate of 4.93 million in November after climbing 1.4 percent to 5.25 million in October. Economists had expected existing home sales to edge down to 5.20 million.
