Existing-Home Sales Rise to 8-Month High in October as Inventory Falls

A ‘For Sale’ sign is seen on a house in Monterey Park, Calif. Frederic J. Brown / AFPA slight easing of mortgage rates led to an uptick in the sale of existing homes in October, along with a modest decrease in unsold inventory, but median sales prices continued to rise.Existing-home sales in October jumped by 1.2 percent from September to a seasonally adjusted annual rate of 4.1 million units—an eight‑month high, according to the National Association of Realtors (NAR). Year over year, sales were up by 1.7 percent.