US existing home sales up 24 per cent in Sept to fastest

by Josh Boak, The Associated Press Posted Oct 21, 2014 8:02 am MDT US existing home sales up 2.4 per cent in Sept. to fastest rate in 2014; still lags 2013 pace AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – U.S. homes sold in September at their fastest clip this year, yet the housing market has yet to fully shake off a slowdown that began in the middle of 2013.The National Association of Realtors says sales of existing homes rose 2.4 per cent to a seasonally adjusted annual rate of 5.17 million. Still, the sales rate has dropped 1.7 per cent over the past 12 months.Investors have retreated from the market over the past year. Their departures are being offset by existing homeowners who are upgrading to more expensive properties or downsizing after having raised their children.Rising prices through much of 2013, weak income growth and tighter credit standards have priced out many would-be buyers. Median home prices rose 5.6 per cent over the past 12 months to $209,700.

Leave a Reply

Your email address will not be published. Required fields are marked *