Home sales on the rise despite soaring prices
Homes sales managed to inch higher last month despite rising prices and dwindling inventory.
According to the National Association of Realtors, sales of existing houses, townhomes, condominiums and co-ops rose 0.08% in October from the previous month.
In all, 6.34 million existing homes were sold.
That number is down almost 6% from a year ago when pandemic home buying was in its peak.
Prices haven't taken a break from going up for more than 9 1/2 years, which is the longest increase duration on record.
