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| Sponsored by Quicken Loans |
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| Market Floods with Wave of Existing-Home Sales |
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A tidal wave of existing-home sales flooded the housing market last month, pooling to a decade-high pace, according to the National Association of REALTORS® (NAR). Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 2.0 percent to a seasonally adjusted annual rate of 5.60 million in October, from an upwardly revised 5.49 million in September. October's sales pace was 5.9 percent above a year ago (5.29 million) and surpasses June's pace (5.57 million) as the highest since February 2007 (5.79 million). “October’s strong sales gain was widespread throughout the country and can be attributed to the release of the unrealized pent-up ...
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