Existing home sales grew 2.4% to a seasonally adjusted 5.04 million-unit rate in November from a revised 4.92 million pace the previous month, the National Association of Realtors announced Friday.
The November rate was originally reported as a 4.93 million pace.
The December rate represents a 3.5% increase from the same month a year ago, and was weaker than the median 5.06 million unit pace predicted by economists polled by Thompson Reuters.
NAR chief economist Lawrence Yun said the sales rate picked up later in the year. "Home sales improved over the summer once inventory increased, prices moderated and economic growth accelerated," he said. "Sales were measurably better in the second half - up 8 percent compared to the first six months of the year."
Sales in December were mixed in the four regions. They fell 2.9% in the Northeast, and declined 3.5% in the Midwest, but rose 3.8% in the South, and surged 9.8% in the West.
The median sales price was $209,500 in December, a 6.0% increase from a year ago.
Inventory levels fell 11.1% from the previous month to 1.85 million existing homes, representing a 4.4-month supply at the current pace. Inventory was off 0.5% from the December 2013 level.
