Existing Home Sales Rise in November; Purchases Since 2007 Revised Down

Existing home sales rose 4% in November to an annual rate of 4.42 million homes, but sales figures since 2007 were revised down, the National Association of Realtors said Wednesday.

The median price of existing homes fell 3.5% in November from a year ago, to $164,200.

Sales increased in all four national regions, led by a 9.8% gain in the Northeast.

The group also reported existing home sales for 2010 were revised down by 15% to 4.19 million, from 4.91 million.

Purchases were also revised down by 16% for 2009, 16% for 2008 and 11% for 2007.