Having ticked up 1.9 percent in October, the seasonally adjusted pace of existing-home sales across the U.S. retreated 1.7 percent in November to an annual rate of 5.35 million sales, which is still 2.7 percent above its mark at the same time last year, but versus 4.6 percent higher on a year-over-year basis the month before, according to the National Association of Realtors.

At the same time, the inventory of existing homes on the market across the nation dropped 7.3 percent to 1.64 million homes, which is 5.7 percent lower than at the same time last year.

And out West, the pace of existing-home sales dropped another 3.5 percent in November to an annual rate of 1.09 million sales but remains 4.8 percent above its pace at the same time last year.

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