By Jann Swanson | Mortgage News Daily
If October sales of existing homes are an indication 2014 may come to a better conclusion than has been expected. The National Association of Realtors® (NAR) said today that sales of single-family homes, townhomes, condominiums, and co-ops in October were at their highest level since September 2013 and, for the first time in a year, exceeded sales a year earlier.
Existing home sales rose 1.5 percent in October to a seasonally adjusted annual rate of 5.26 million in October, the highest since the same figure was reached in September 2013, from an upwardly revised rate of 5.18 million in September, the second consecutive month-over-month increase. October’s sales were also 2.5 percent higher than in October 2013.
