Business news for Mon, 31 Dec 2007 & with words existing+market. 9 news.

Sales of previously owned homes nudged up in November, but that didn’t improve the broader picture of a feeble housing market.

Reuters - The pace of existing U.S. home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.

WASHINGTON (Reuters) - The pace of existing U.S. home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.

Even with the last-day retreat, major indexes posted gains for the year. Data on existing home sales provided rare good news for the housing market

Monthly resales of homes in the United States inched up in November, a bright spot in a market where sales were still off 20 per cent from year ago.

Stocks floundered Monday morning, on the last trading day of the year, after a report on sales of existing homes showed little improvement in the beleaguered housing market.

WASHINGTON (MarketWatch) - In a hint of stability, sales of existing homes rose 0.4% in November to a seasonally adjusted annualized rate of 5.00 million, the National Association of Realtors reported Monday. Sales of existing homes are down 20% in the past year and are down 31% from the peak of 7.21 million two years ago. Inventories of unsold homes on the market declined by 3.6%, representing a 10.3-month supply at the current sales pace. The median sales price fell 3.3% compared with a year ago to $210,200. November sales were in line with the 4.99 million annual pace expected by economists surveyed by MarketWatch.

NEW YORK (Reuters) - Stocks were set to push a little higher on the last trading day of the year on Monday, but data on existing home sales could limit any advance.

Reuters - Stocks were set to push a little higher on the last trading day of the year on Monday, but data on existing home sales could limit any advance.