US homes sales accelerate, supply still a constraint

Washington

HOME sales in the United States increased more than expected in October as hurricane-related disruptions eased, but a chronic shortage of houses which is pushing prices beyond the reach of some first-time buyers remains an obstacle.

The National Association of Realtors (NAR) said on Tuesday that existing home sales rose 2 per cent to a seasonally adjusted annual rate of 5.48 million units last month.