Home Sales On The Rise
Existing home sales increased in October after six straight months of decreases, the National Association of Realtors reported yesterday. Lawrence Yun, NAR's chief economist, said increasing housing inventory has brought more buyers to the market. "Gains in the Northeast, South, and West--a reversal from last month's steep decline or plateau in all regions--helped overall sales activity for the first time since March 2018." He added that as more inventory enters the market "as we head into the winter season, home price growth has begun to slow more meaningfully. This allows for much more manageable, less frenzied buying conditions." Properties typically