The National Association of Realtors (NAR) reported yesterday that existing home sales in October rose to their highest level in more than two years. Nationally, sales were up 10.1% over September and up 23.5% year over year.
Most of the increase in sales, however, was not in the western region, where sales were only up 1.6% from the previous month. (Oh, the devil is always in the details.) And more “good news”: The western region median price of $220,200 — clearly this is not San Francisco — was down 14.7% year over year. ...