Market Update: Exisiting Home Sales make their first yearly increase of 2014

The Nation Association of Realtors’ existing home sales reports showed that home resales increased 1.5% from September to October and home sales increased 2.5 percent since the October 2013 – this being the first year-over-year increase of 2014. Quicken Loans Vice President Bill Banfield offered the following comments of the report:

“Home resales saw an unexpected rise in October. The current growth in home sales along with the jump in housing starts indicates that the housing market isn’t freezing over quite yet. Home prices making slow increases, hand-in-hand with interest rates at generational lows, leads to an excellent opportunity to buy a home.”

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