October Home Sales Rise 2.1 Percent

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U.S. home sales rose 2.1 percent in the month of October, adding to further evidence of a recovering housing sector, the Associated Press reports:

The National Association of Realtors said Monday that sales rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million. That’s up from 4.69 million in September, which was revised lower.

The sales pace is roughly 11 percent higher than a year ago. But it remains below the more than 5.5 million that economists consider consistent with a healthy market.

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