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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.

Article Topic Follows: Consumer
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April Hettinger

April was born and raised in San Diego where she loved the beach town and her two dogs, Lexi and Malibu. She decided to trade the beach for the snow and advanced her education at Northern Arizona University in Flagstaff.

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