U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery.
The National Association of Realtors said on Monday existing home sales dropped 6.1 percent to an annual rate of 4.93 million units, the lowest level since May.
October's sales pace was revised slightly down to 5.25 million units from 5.26 million units. November's decline probably does not signal the start of a weakening trend and in part reflected stubbornly low inventories.
Economists polled by Reuters had expected sales to fall only to a 5.20-million unit pace.
Housing has struggled to shift into higher gear after stagnating in the second half of 2013 in the wake of a jump in mortgage rates, which have since pulled back from their peaks.
It has lagged an acceleration in economic activity as tepid wage growth, a shortage of properties available for sale and higher home prices sidelined first-time buyers.
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