Existing home sales fall to lowest level in nearly a year

Reuters reports U.S. home sales fell in November to their lowest level in nearly a year. Interest rates have risen since spring and prices are increasing, discouraging some home buyers.

The National Association of Realtors said sales dropped 4.3 percent last month to $4.9 million, the lowest annual rate since December 2012.

The median price nationwide rose 9.4 percent in November from the same time last year to $196,300.

Read more from Reuters.