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Existing Home Sales Surprise to Upside. Discussing Broader Implications
Posted to: MND NewsWire
Monday, November 23, 2009 2:14 PM
The National Association of Realtors released Existing Home Sales data this morning. READ HOW THE NAR COMPILES DATA AND GAIN A BETTER UNDERSTANDING OF SEASONAL INFLUENCES In last month's report from the NAR, existing-home sales jumped 9.4 percent to an annual rate of 5.57 million units in September from a level of 5.10 million in August. Sales activity was at the highest level since hitting 5.73 million annualized units in July 2007. Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, which represented an 7.8-month supply. The national median existing-home price for all housing types was $174,900 in September, In this month's report, existing-home sales surged 10.1 percent to an annual rate of 6.10 million units in October...
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