Existing-home sales in US climb

Sales of previously owned US homes climbed in October, indicating gains in the real estate market are being sustained by cheap borrowing costs.

19th November, 2012

Sales of previously owned US homes climbed in October, indicating gains in the real estate market are being sustained by cheap borrowing costs.

Purchases of existing houses, tabulated when a contract closes, increased 2.1 per cent to a 4.79 million annual rate, exceeding the median forecast of economists surveyed by Bloomberg, figures from the National Association of Realtors showed today in Washington. The median price rose from a year ago as inventories dropped to the...

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