Sydney real estate agent Julie Bundock was preparing for an open house at a four-bed home on Sydney’s northern beaches when she noticed the current renters of the house had left some bedding on the deck to dry.

She removed the sheets and threw them in a downstairs room onto a shelf below a light, which she then switched on.

About 20 minutes later a major fire broke out in

Existing-home sales posted a slight gain last month, breaking a streak of five consecutive monthly declines and foreshadowing what is expected to be a more favorable real estate market in 2024.

The National Association of REALTORS® reported Wednesday that existing-home sales, which were completed transactions for single-family homes, townhomes, condos and co-ops, rose 0.8% in November. That figure is likely to grow in the coming months as borrowing costs fall, says NAR Chief Economist Lawrence Yun. Mortgage rates averaged 6.95% last week after reaching nearly 8% earlier this fall.

Still, November existing-home sales were down 7.3% from a year earlier,