(The Center Square) – Sales of existing homes climbed 1.2% in October, according to a report released Thursday by the National Association of Realtors.

The 1.2% increase in existing-home sales is equal to a seasonally adjusted annual rate of 4.10 million in October. Unsold inventory dropped 0.7% to 1.52 million units. That’s equal to 4.4 months’ supply. A six-month supply is generally considered a balanced market.