Report: Existing home sales spiked in October

Existing home sales rose 1.6% in October, marking the largest monthly increase since January 2022 and the first annual gain since November 2021, according to Redfin. Total home sales, including newly built homes, climbed 3.4% year over year, while the median sale price surged 5.2% to $435,313, reflecting the highest annual growth in six months.