Existing home sales in the month of October increased by much more than expected, according to a report released by the National Association of Realtors on Monday, with the sales growth driven by the first-time buyer tax credit.
The report showed that existing home sales jumped 10.1 percent to an annual rate of 6.10 million units in October from a downwardly revised 5.54 million in September. Economists had expected sales to rise to 5.70 million from the 5.57 million originally reported for the previous month.
For comments and feedback: editorial@rttnews.com