WASHINGTON, Dec 19 (Reuters) – U.S. existing home sales surged to an eight-month high in November, but higher mortgage rates and house prices remain a constraint heading into 2025.

Home sales jumped 4.8% last month to a seasonally adjusted annual rate of 4.15 million units, the highest level since March, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home resales would advance to a rate of 4.07 million units.