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Home sales up

Home sales up

By Daniel Gutierrez. CREATED Nov 20, 2012

U.S. sales of previously occupied homes rose solidly in October. Sales were helped by improvement in the job market, and record-low mortgage rates.

The increase along with a jump in homebuilder confidence suggests the housing market is recovering. The National Association of Realtors this week, said that October sales rose 2.1 percent, to an annual rate of 4.79 million. That's up from 4.69 million in September, which was revised lower.