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R>Sales of existing homes in the US increased in October, even with some regional impact from Hurricane Sandy, while home prices continued to rise due to lower levels of inventory supply.
According to the latest monthly report from the National Association of Realtors, sales rose 2.1% to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9% above the 4.32 million-unit level in October 2011.
However, there was some impact from Hurricane Sandy according to Lawrence Yun , NAR chief economist.
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