Home resales up 9.4% in September, prices fall

Filed under: Economic data, Housing

Existing homes are starting to move again. Last month, home resales hit their highest level in more than two years, thrashing expectations. The 9.4% increase in home resales -- which entails a seasonally adjusted rate of 5.57 million -- is attributed largely to the deadline for the first-time home buyer tax credit.

According to the National Association of Realtors, the annualized, seasonally adjusted rate is up from the 5.1 million in August and far ahead of the 5.35 million expected for September (based on economists surveyed by Thomson Reuters).

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Home resales up 9.4% in September, prices fall originally appeared on BloggingStocks on Sat, 24 Oct 2009 15:10:00 EST. Please see our terms for use of feeds.

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