U.S. existing-home sales stopped falling and climbed for the first time in eight months during October, but prices made a record year-over-year drop.

Meanwhile, separate reports showed declines in U.S. consumer confidence and durable-goods orders.

Home resales rose to a 6.24 million annual rate, a 0.5% increase from September’s revised 6.21 million annual pace, the U.S. National Association of Realtors said today. September’s rate was originally estimated at 6.18 million.

The median home price was US$221,000 in October, compared with a revised US$221,000 in September and US$229,000 in October 2005. It was the largest year-to-year decline ever and a record third consecutive decrease, NAR said.

NAR chief economist David Lereah said market fundamentals are improving. “After a period of price adjustment, we’ll see more confidence in the market and a lift to home sales should be apparent in the first quarter of 2007,” Lereah said.

The resales level last month was above Wall Street expectations of a 6.12 million sales rate for previously owned homes.

Meanwhile, U.S. consumer confidence levels posted a surprise decline in November.

The Conference Board, a private research group, said today its index of consumer confidence for November moved to 102.9 compared with the revised 105.1 seen in October.

The current month’s reading was below economists’ expectations for 105.8. The October confidence number was originally reported at 105.4.

“A tighter labor market and a more guarded short-term outlook have combined to curb consumers’ confidence in November,” said Lynn Franco, Director of the Conference Board Consumer Research Center.

The present situation index, a gauge of consumers’ assessment of current economic conditions, fell to 123.6 in November from a revised 125.1 the prior month.

Consumer expectations for the state of economic activity over the next six months also declined to 89.2 from a revised 91.9 the prior month.

Separtely, U.S. durable-goods orders reversed course and took their sharpest fall in six years during October, dragged down by lower demand for airplanes and capital goods.

Durable-goods orders decreased by 8.3% last month to a seasonally adjusted $209.97 billion, U.S. the Commerce Department said today. Durables had jumped by 8.7% in September, revised from a previous estimated 8.3% increase. Durables were flat during August and down by 2.8% in July.

A key barometer of business equipment spending — orders for nondefense capital goods excluding aircraft — decreased by 5.1%, after rising 3.2% in September. Shipments for nondefense capital goods excluding aircraft decreased by 1.5%, after dropping by 1.6% in September; the shipments are used in calculating gross domestic product.

The 8.3% decline in overall durable goods orders surprised Wall Street. Economists surveyed by Dow had durables 5% lower during October. It was the biggest drop since 14.0% in July 2000.