Article posted: 12/20/2012 9:31 AM

U.S. home sales jump to highest level in 3 years

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U.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates.

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U.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates. The National Association of Realtors said Thursday that sales rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November. That’s up from 4.76 million in October. Previously occupied home sales are on track for their best year in five years. November’s sales were the highest since November 2009, when a federal tax credit that was soon to expire spurred sales.