Existing home sales hit fastest pace

Sales of previously-owned homes rose in September to reach their fastest pace in 2014, even though investors are leaving the market. That’s good news for regular people, who are enjoying low mortgage rates and decreased competition for homes.

Sales of existing-homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, according to National Association of Realtors data released Tuesday. Though at their highest pace of 2014, sales remain 1.7% down from a year earlier, when the pace stood at 5.26 million.