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 from a downwardly revised pace of 5.54 million in September. Sales activity is at the highest pace since February 2007 when it hit 6.55 million. Total housing inventory at the end of October fell 3.7 percent to 3.57 million existing homes available for sale, which represents a 7.0-month supply at the current sales pace, less than the revised for the worse 8.0-month supply which was reported in September. The national median existing-home price for all housing types was $173,100 in October, down 7.1 percent from October 2008.
From the National Association of Realtors…
Existing-home sales– including single-family, townhomes, condominiums and co-ops –surged 10.1 percent to a seasonally adjusted annual rate of 6.10 million units in October s from a downwardly revised pace of 5.54 million in September, and are 23.5 percent above the 4.94 million-unit level in October 2008.
Sales activity is at the highest pace since February 2007 when it hit 6.55 million. However we have to remember much of this has do with the current programs that are available to us(the public), and that we the taxpayers are being billed at an astronomical rate…..in which we will have to pay back. Someday. We need to keep these things in mind as our nation gets back on its feet.
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