Existing home sales improved in October for the first time in seven months. The National Association of Realtors announced a 1.4% monthly increase, while also noting that the annualized sales pace was 5.1% slower than it had been 12 months earlier. Across the year ending in October, the median sales price for an existing home rose 3.8%. There were 4.3 months of housing inventory listed last month, corresponding to the definition of a “tight” market among real estate professionals.1

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1 – bloomberg.com/news/articles/2018-11-21/u-s-existing-home-sales-rise-for-first-time-in-seven-months [11/21/18]