Total existing-home sales ?EUR??,,????'??? including single-family, townhomes, condominiums and co-ops ?EUR??,,????'??? rose 0.5 percent to a seasonally adjusted annual rate of 6.24 million units in October from an upwardly revised pace of 6.21 million in September, but were 11.5 percent below the 7.05 million-unit level in October 2005.

?EUR??,,????'??The present level of home sales demonstrates some confidence in the market, but sales are lower than sustainable due to psychological factors,?EUR??,,????'?? David Lereah, NAR?EUR??,,????'???s chief economist, said.

The national median existing-home price for all housing types was $221,000 in October, which is 3.5 percent below October 2005 when the median price spiked above adjacent months to $229,000. The median is a typical market price where half of the homes sold for more and half sold for less.

?EUR??,,????'??The annual decline in the October median home price is skewed because there was an uncharacteristic spike in October 2005, but the trend for the fourth quarter will be prices remaining slightly below a year ago. Overall prices are projected to see modest appreciation around early spring,?EUR??,,????'?? Lereah said.

Single-family home sales rose 1.3 percent to a seasonally adjusted annual rate of 5.50 million in October from a level of 5.43 million September, but were 11.0 percent below the 6.18 million-unit pace in October 2005. The median existing single-family home price was $221,300 in October, which is 3.4 percent below a year ago.

Existing condominium and cooperative housing sales fell 4.8 percent to a seasonally adjusted annual rate of 741,000 units in October from an upwardly revised 778,000 in September, and were 14.5 percent lower than the 867,000-unit level in October 2005. The median existing condo price was $214,300 in October, which is 5.3 percent lower than a year earlier.

Regionally, existing-home sales in the West rose 6.4 percent to an annual pace of 1.33 million in October but were 18.9 percent lower than a year earlier. The median price in the West was $340,000, down 0.6 percent from October 2005.

Existing-home sales in the Midwest were unchanged in October, holding at a level of 1.41 million, and were 10.2 percent lower than a year ago. The median price in the Midwest was $170,000, which is 1.2 percent below October 2005.