Existing-home sales up, prices down

National median sales price falls 4.7% in October

Existing-home sales rose year over year for the fourth straight month in October, while the national median price continued to decline, according to the latest monthly report from the National Association of Realtors.

Sales of single-family homes, townhomes, condominiums and co-ops increased 13.5 percent last month to a seasonally adjusted annual rate of 4.97 million. Existing-home sales have been rising by double digits on an annual basis since July. Sales also rose on a monthly basis in October, by a slight 1.4 percent, compared with a 3 percent decrease in September.