The MReport Webcast: Tuesday 12/23/2014

Sales of pre-owned homes stalled out in November, plunging to their slowest pace in half a year only one month after hitting a 2014 high. The National Association of Realtors reported Monday that existing-home sales fell more than 6 percent from October to November, landing at a seasonally adjusted annual rate of 4.93 million. The association also cut October's estimated sales rate slightly to 5.25 million. Despite the stumble, home resales in November were still up 2 percent from year-ago levels, making it just the second month in 2014 to see sales rise year-over-year.

Existing-home sales fell month-over-month in November in all four census regions, led by a 9-point-6 percent drop in the West to a yearly rate of 1.03 million. That was followed by declines of 8.9 percent in the Midwest, 4.2 percent in the Northeast, and 3.2 percent in the South. Compared to a year ago, sales were up in the Northeast and South, outperforming November 2013 by at or near five percent each. At the same time, sales were down in the Midwest and in the West.           

A popular index gauging leading U.S. economic indicators grew for a third straight month in November, signaling moderate economic growth as the year closes out. The Conference Board's Leading Economic Index increased 0.6 percent in November to 105.5, the group reported. The increase matched October's improvement and was slightly weaker than September's growth. The Conference Board's two other economic indices—measuring current and lagging indicators—also improved last month. The coincident economic index, which includes payrolls and incomes, grew to 110.7, while the lagging economic index climbed to 125.4.