HousingWire reports sales of existing homes increased 2.1 percent October over Sept. to a seasonally adjusted annual rate of 4.79 million as compared to 4.69 million the previous month. The National Association of Realtors (NAR) says on the year, sales of existing homes are up almost 11 percent over the 4.32 million from last year for the same period. For the eighth consecutive month the national median existing-home price has risen, this month by 11.1 percent October year-over-year, to $176,800. As MHProNews has learned, distressed homes accounted for 24 percent of October home sales, the same as Sept. but a drop from 28 percent last year.
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