Core Insights - Sales of previously occupied U.S. homes increased by 0.5% in November compared to October, reaching a seasonally adjusted annual rate of 4.13 million units, despite a year-over-year decline for the first time since May [1] - Year-over-year sales fell by 1% compared to November of the previous year, slightly below the expected pace of 4.14 million units [2] - The national median sales price rose by 1.2% year-over-year to $409,200, marking 29 consecutive months of annual price increases, despite a sluggish housing market that began in 2022 [3] - Home sales have remained around a 4-million annual pace in 2023, significantly lower than the historical norm of 5.2 million annual sales [4]