CV joints usually make a clicking sound when they begin to fail, so I think it is more likely - given your description - a wheel bearing. Could also be a piece of gravel stuck between the brake rotate and heat shield. You should jack up the rear end (both wheels in the air) and attempt to localize the sound by hand turning the wheels. Good luck.
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-- John
'00 Boxster S
'86 911 Carrera Coupe (Sold)
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