Home Sales on the rise

According to the National Association of REALTORS®,  home sales last month  increased by 27% compared to same time last year.

Construction of single-family homes reached the highest pace since the spring of 2007.

Existing-home sales reached a seasonally-adjusted annual rate of 6.85 million.

Listed homes are selling fast. Seventy-two percent of homes were on the market for less than a month.

• West: existing-home sales rose 1.4% in October to an annual rate of 1.4 million, a 22.8% uptick from a year ago.
  Median price: $457,800, up 15.1% from a year ago.