NAR: Existing Home Sales Up 5.9 Percent In October
Existing home sales increased 5.9 percent year-over-year in October. Numbers from the National Association of Realtors put existing home sales for October at a seasonally adjusted annual rate of 5.60 million in October, a two percent increase from the previous month. This is welcome news from NAR, but it is also important to remember that this was before the spike in mortgage rates we have seen during the last month. "The good news is that the tightening labor market is beginning to push up wages and the economy has lately shown signs of greater expansion. [...]