Existing home sales sink in South

Existing home sales in Southern states sank nearly 24 percent in November compared to the same month last year, and two markets in North Carolina were part of the trend.
   
The marked drop in sales in the South - as in the rest of the country - showed how job losses, Wall Street weakness and dwindling consumer confidence forced more people out of the housing market.
   
Two of the slowest markets in terms of sales were the North Carolina metro areas of Charlotte and Raleigh-Durham.
   
Without adjusting for seasonal factors, November sales dropped 17 percent nationwide from a year ago, while the median sales price slid 13 percent to $181,300.
   
In addition to faltering sales, the National Association of Realtors reported median sales price fell nearly 11 percent to $154,500.