Sales of Existing Homes on the Increase

Sales of U.S. homes took a climb in the month of October. With record low mortgage rates, this is a great sign in helping our economy. According to Bloomberg, “purchases of existing houses increased 2.1% to a 4.79 million annual rate EXCEEDING forecasts.” Property values are on the rise steadily in the past 6 months and most inventories have dropped to their lowest levels in a decade!