Total existing-home sales (including single-family homes, townhomes, condominiums, and co-ops) were down 4.3% to a seasonally adjusted annual rate of 4.90 million in November 2013, according to the National Association of Realtors. The pace in November 2013 was down from 5.12 million in October 2013 and was down 1.2% from a pace of 4.96 million units in November 2012.
This is the first time in 29 months that sales were below year-ago levels.
First-time buyers made 28% of the purchases of existing homes in November 2013, which was the same as in October. The share of first-time buyers in November 2012 was 30%.
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