Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

US home sales pick up

Staff Reporter 3 minute read

Existing home sales increased in the United States in September, the National Association of Realtors reported this week.

Sales rose 5.5 per cent to a seasonally adjusted annual rate of 5.18 million units, compared to 4.91 million in August.

Compared to September 2007, sales were up 1.4 per cent.

NAR president Richard F. Gaylord said low home prices and low interest rates were attracting buyers who had been on the sidelines and wanted to make a long-term investment in their future.

Advertisement
Advertisement

“This is the first time since November 2005 that home sales have been above year-ago levels,” he said.

The bad news however was that the number of sales as a result of foreclosures has grown to 35 to 40 per cent of transactions. This has pulled the median house price down by 9 per cent over the year.

Published: 28-10-08

Today's other news

US home sales pick up
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
David Hyman

Breaking News

Brokers promote competition in lending: Lendi

Brokers are driving competition in the mortgages sector and chang...

money au ta

Breaking News

SME fintech closes $25m raise to fund expansion

An SME lender has raised $25 million in equity to fund the ‘rap...

loan application

Breaking News

Hot Property: The biggest property headlines from the week 26 to 30 July

The weekly round-up of the biggest news stories from across Momen...