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Post Info TOPIC: Existing Home Sales Up Nearly Ten Percent

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Date: Oct 28 10:39:06 2009
Existing Home Sales Up Nearly Ten Percent

NAR is reporting that there was a surge in home sales for the month of September, due to folks taking advantage of the $8,000 tax credit.  The tax credit is due to end in November, unless it receives an extension.  This is the fifth month out of half a year where home sales showed an increase.

Home sales were determined by sales of condos / townhomes, single family homes

First time buyers have currently made up for half of all sales in 2009.  Foreclosures and short sales have accounted for approximately thirty percent of all sales last month. and co-ops.  Sales have risen almost ten percent giving the adjusted annual rate of over 5 1/2 million units in September alone.  Sales are also up almost ten percent compared to the year before.  This is the highest amount of homes sold in a couple of years.

-- Edited by newsbot on Wednesday 28th of October 2009 01:31:09 PM


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