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Existing-Home Sales Rebound from Late-Summer Decline

Total existing-home sales, including single-family homes, townhouses, condominiums, and co-ops, inched up 2.4 percent in September to a seasonally adjusted rate of 5.17 million, the National Association of Realtors (NAR) reported Tuesday. While September's sales rate marks a 2014 high, transaction volume remained down 1.7 percent compared to last September's annual sales rate of 5.26 million units.

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Profits Jump 87% at Morgan Stanley

Morgan Stanley's third quarter 2014 net revenues of $8.9 billion marked an increase from $8.0 billion from the same period a year ago, the investment bank reported in its Q3 2014 earnings statement released on Friday. Morgan Stanley's net income for Q3 2014, including discontinued operations, was reported at $1.7 billion.

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Housing Market Slows as Supply Problems Continue

At the national level, Realtor.com reported the median age of September's housing stock was 90 days, four days longer than August's median age as home shoppers back off for the season. Compared to last year, though, September's median inventory age was down three days, indicating demand is still there. The number of listings last month was approximately 1.87 million, down 2.7 percent annually and 7.9 percent monthly.

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All-Cash Home Sales Recede to Six-Year Low

According to transaction data from CoreLogic, home sales transacted entirely in cash accounted for 32.9 percent of total home sales in July, down from 35.9 percent in July 2013. It was the lowest cash sales share since August 2008. As of July, all-cash sales were still well above their pre-crisis average of 25 percent as traditional mortgage buyers still find it difficult to get a foot into the market.

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September Home Sales Beat 2013 Figure

Though September home sales were down 10.4 percent from August—an expected seasonal trend—September is the first month in 2014 in which home sales exceeded those one year prior, according to the latest National Housing Report from RE/MAX. The firm found that home sales last month were 0.9 percent higher than in September 2013, which is no small feat, considering that 2013 was marked by double-digit growth in home sales nationwide.

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Housing Inventory Sees Late-Season Gains

According to an analysis from Redfin, housing stock in all of its tracked markets totaled 563,377 in September, up 4.1 percent from August and 6.3 percent from a year prior. Even with the unexpected rise in inventory, analysts at the company expressed doubt that supply will be able to keep pace with demand in the coming months, especially with home affordability still looking favorable.

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Housing Starts Rise After August Stall

According to a joint release from the Commerce Department and HUD, homebuilders broke ground on new projects at a seasonally adjusted annual rate of 1.02 million last month, 6.3 percent above August's revised estimate of 957,000 (just barely up from the government's initial estimate).

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Goldman Sachs Sees Boost in Profits

The Goldman Sachs Group, Inc. reported a third quarter net revenue of $8.39 billion and net earnings of $2.24 billion, according to the company's Q3 earnings statement released on Thursday.

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Report: Buying a Home 38% Cheaper than Renting

Buying a home is still cheaper than renting in most markets across the country, and even cheaper than a year ago, according to the latest Rent vs. Buy report from Trulia. According to Trulia, when the purchase includes 20 percent down and a fixed 30-year mortgage, buying is 38 percent cheaper than renting.

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Builder Confidence Ends Growth Streak in October

The National Association of Home Builders' (NAHB) index of builder sentiment fell in October, ending a four-month streak of gains that resulted in a nine-year peak. The group's Housing Market Index, a measure of homebuilder confidence in the market for newly built, single-family homes, lost five points in this month’s reading, bringing it to 54. An index value above 50 indicates market perceptions are more positive than negative.

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