Home resales are expected to have risen to their highest level in nearly three years in November, as an extraordinary level of federal support has pulled the housing market back from the worst downturn since the Great Depression.
Economists project home sales rose 2.5 percent to a seasonally adjusted annual rate of 6.25 million, up from 6.1 million in October, according to Thomson Reuters. If accurate, it would be the third-straight increase and the best month for home sales since February 2007.
The National Association of Realtors’ report is scheduled for release at 10 a.m. EST Tuesday.