Powered by MOMENTUM MEDIA
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 1 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.

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

Advertisement
Advertisement

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
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB