Existing Home Sales Rise

Sales of previously owned homes nudged up in November but that didn't improve the broader picture of a feeble housing market racked by record high foreclosures and tight credit. Sales of existing single family homes, condominiums and townhouses rose in November from October, to a seasonally adjusted annual rate of 5 million units. The pace was still the second lowest since l999. The lowest pace of $4.98 million was registered in October.