Existing Home Sales Up 3.1%

Existing home sales in September reached a seasonally adjusted annual rate of 6.75 million units in August which is up from 6.68 million from Sept. 03 as reported by the NAR.

This is the first increase after two months of decreases which may be attributed to higher mortgage rates from over the summer. Now that mortgage rates have decreased slightly many home buyers got back into the market.

The West increased 7.8% in September to 1.93 million units annually which is 4.3% increase over the previous year. The median priced home was $266,400 up 14.9% from 2003.

View all home sales data.

Thanks for Reading.
Jessie J. Beaudoin