Existing Home Sales Drop in November
The National Association of Realtors announced that, after reaching the highest level of the year in October, total existing home sales, including completed transactions for single-family homes, townhomes, condominiums and co-ops, fell 6.1 percent to reach a seasonally adjusted annual rate of 4.93 million in November. Sales dropped to hit the lowest annual pace since May's 4.91 million, but are up 2.1 percent from last November's rate.

New Residential Sales Decline in November
The U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported that sales of new single-family houses declined in November of 2014 to a seasonally adjusted annual rate of 438,000. This is a decrease of 1.6 percent from October's revised rate of 445,000 and a decrease of 1.6 percent from the November 2013 estimate of 445,000.

Third Quarter 2014 GDP Better Than Previously Estimated
The Bureau of Economic Analysis, a division of the U.S. Department of Commerce, announced that third quarter real gross domestic product, or the value of the production of goods and services in the U.S., adjusted for price changes, is now estimated to have increased by 5 percent instead of the earlier estimate of 3.9 percent.