U.S. Home Sales on Track for Biggest Year in 15 Years

U.S. home sales rose in October as buyers continued to compete for a limited number of homes for sale.

Existing-home sales increased 0.8% in October from the prior month to a seasonally adjusted annual rate of 6.34 million, the highest pace since January, the National Association of Realtors said Monday. That was the highest pace since January, though October sales fell 5.8% from a year earlier when the market was at its peak for this cycle.