Monday, November 19, 2012 4:43 pm
News Summary: US home sales rise 2.1 pct. in Oct.
By The Associated Press
INVENTORIES: A decline in housing inventory is helping push prices higher. There were only 2.14 million homes available for sale at the end of the month, the lowest in 10 years.
GAINS LIKELY TO CONTINUE: As the economy slowly recovers, more people have started looking to buy homes or rent apartments. Mortgage rates are at record lows and rents are rising. That makes buying a home more attractive.