E
xisting home sales surged in November, surpassing 4 million annual sales. However, the recent increase in mortgage rates could slow down the momentum. The housing market saw a significant boost last month, with sales increasing by 4.8% from October and 6.1% year-over-year. Despite rising mortgage rates, builders are optimistic about the market in 2025. The West experienced the largest jump in existing home sales, followed by the Northwest, Midwest, and South. Single-family home construction saw a slight increase, and builders are hopeful for the new year.