Ryan Connolly

Existing home sales rose a strong 5.6% in November (the latest stats available) to an annual sales pace of 4.68 million units, the highest in several months. It suggests the housing market is stabilizing without the help of artificial stimuli such as the tax credit. The National Association of REALTORS forward-looking Pending Home Sales Index for November was also up, another 3.5%, indicating more strength in home sales in the months ahead.