Sales of existing single-family homes jumped 6.7% in November after falling 2% in October, according to the National Association of Realtors. NAR chief economist Lawrence Yun sees the rise in activity as a sign the housing market is recovering, thanks to steady job creation in the private sector and favorable interest rates and home prices."Although mortgage rates have ticked up in recent weeks, overall conditions remain extremely favorable for buyers who can obtain credit," Yun said.NAR reported that sales of previously owned single-family homes increased to a seasonally adjusted annual rate of 4.15 million in November from a 3.89 million rate in October.Until October, existing single-family home sales (excluding condos and cooperatives) had risen from July through September. "The market is recovering and we should trend up to a healthy, sustainable level in 2011," Yun said.NAR also reported that the price of a median existing single-family home rose to $171,300 in November, a 1.2% gain from a year ago.