U.S. home resales rise for fifth month in a row

WASHINGTON — Sales of existing U.S. homes increased by 4.3 percent to a seasonally adjusted annual rate of 6.85 million units in October, according to the (U.S.) National Association of Realtors. September’s preliminary pace of 6.54 million units was revised up to 6.57 million. In a Reuters poll, economists projected sales falling by 1.2 percent to a rate of 6.45 million units in October. Year-over-year, sales were up by 26.6 percent.