Existing home sales in the U.S. jumped 2.4% to an annual rate of 5.17 million units, the highest reading since September, 2013 according to the National Association of Realtors. September’s existing home sales exceeded what many economists had previously predicted, though the increase is not yet considered to be above average. Sophia Kearney-Lederman, an economist at FTN Financial said, “the housing recovery continues to move along sluggishly, as consumers are stuck between tight credit standards and limited wage growth.” More here
