Existing Home Sales Rise 5.5%

Existing homes sales jumped 5.5% in September to the highest level in a year, the National Association of Realtors said Friday.

Sales rose to an annual rate of 5.18 million homes, from 4.91 million in August, NAR said. The median price fell 9% from a year ago.

Economists had forecast home resales would rose to a 4.95 million rate, Bloomberg reported.