Existing Home Sales Highest in Over a Year
Washington, DC, Nov. 20, 2014 -- U.S. home resales hit their highest level in more than a year in October, according to the National Association of Realtors.
It was also the first time this year that sales were higher than the same month the previous year.
NAR said existing home sales rose 1.5% to an annual rate of 5.26 million units, the highest rate since September of last year.
Sales were up 2.5% compared to a year ago, the first time since October 2013 that sales have risen above the prior-year levels.
Economists expected sales to fall to a 5.16 million-unit pace.