Existing home sales at highest level since 2007

According to CNN Money, Sales activity rises more than expected in October, by 10.1%, to 6.1 million annual units.

“Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday.

The National Association of Realtors reported that existing home sales rose 10.1% last month to a seasonally adjusted annual rate of 6.1 million units, up from the downwardly revised rate of 5.54 million in September.

Sales activity is the highest since February 2007, when the annual rate was 6.55 million.”

Read Full Story:

http://money.cnn.com/2009/11/23/real_estate/existing_home_sales/index.htm

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