US: Existing-home sales soar 5.6% in November

" Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years," the National Association of Realtors announced on Wednesday.

Total existing-home sales jumped 5.6% to a seasonally adjusted annual rate of 5.81 million in November from an upwardly revised 5.50 million in October.

After last month’s increase, sales are 3.8 percent higher than a year ago and are at their strongest pace since December 2006 (6.42 million).

Lawrence Yun, NAR chief economist: Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.