Americans bought homes in October at the briskest pace this year, a sign that the sluggish housing market is turning around.
The National Association of Realtors says sales of existing homes rose 1.5 per cent to a seasonally adjusted annual rate of 5.26 million. That's up from a revised pace of 5.18 million in September.
October marked the first month in 2014 when sales increased compared to a year ago, registering a 2.5 per cent gain compared to 2013.
Harsh winter weather had crippled buying at the beginning of 2014, just as tight credit, rising home prices and essentially flat incomes cut into affordability and buying activity.
The Realtors project that 2014 sales will fall below 2013 levels.
Median home prices rose 5.5 per cent over the past 12 months to $US208,300 ($225,371).