Existing Home Sales Jump 10% in September

According to the N.A.R., existing home sales in the U.S. jumped 10% in September. Estimates show 4.5 million homes being sold for the month. While that's a significant increase from August, it's still significantly off from the home sales last year in the same month (about 20% less).

One important factor to remember, however, is that the home buyer tax credit was initially set to expire in November of last year, so September and October of 2009 had unusually high volumes of sales, while the following December/January were alternately sparse. Overall sales numbers from last year to this year had a much smaller drop.

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October 26 2010 - Bridle Trails
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Profile picture for SteadyState
Ra Ra Ra. Go NAR!
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October 26 2010
Profile picture for Pasadenan
Considering that sales across the entire nation were down in August substantially more than that due to the end of the federal incentive give-away, being "up" compared to August is quite meaningless.

And we already heard the Realtor® press release in all the media outlets across the nation.  That is what propaganda is for.
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October 26 2010
Statistics, fellas, just statistics.
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October 27 2010
Profile picture for dacolan
In a separate report, U.S. house prices rose 0.4% on a seasonally adjusted basis from July to August, the Federal Housing Finance Agency said Tuesday. See FHFA data.

The positive tone of the report was muted because declines in July and June were deeper than previously estimated.


And in other news, house prices are down in 15 of 20 metro areas tracked by the Case-Shiller index.
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October 28 2010
 
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