US existing home sales up

US existing-home sales rose in October for the second straight month and eclipsed June's cyclical sales peak to become the highest annualised pace in nearly a decade, according to the National Association of Realtors. All major regions saw monthly and annual sales increases in October.

Total existing-home sales grew 2.0 percent to a seasonally adjusted annual rate of 5.60 million in October from an upwardly revised 5.49 million in September.

October's sales pace is 5.9% above a year ago (5.29 million) and surpasses June's pace (5.57 million) as the highest since February 2007 (5.79 million).