Existing Home Sales Increase By Almost 4%

According to Economic Forecasting And Analysis Company IHS Global Insight, home sales and home prices are up. In October, existing home sales increased from 2.1 percent to a seasonally adjusted rate of 4.79 million units. The Case-Shiller report and the Federal Housing Finance Agency report showed price increases of nearly 4%. This percentage is expected to fall over the winter months, as winter is traditionally the low season for home sales. Patrick Newport, an IHS Global Insight economist believes the market is driven by “the fact that we haven’t been building at high levels for a long time.” more here.

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