Existing Home Sales Post Stronger Than Expected Gains
10.25.10 |
(New York, NY) -- Sales of existing homes rose for the second straight month in September. The National Association of Realtors reports sales of previously owned homes jumped by ten percent last month to a seasonally adjusted rate of four-and-a-half-million units.
Economists said the stronger-than-expected gains signal a recovery is underway in the housing market. The realtors group also reported the median price of homes sold in September was 171-thousand dollars, which is down two-point-four percent from one year ago. About 35 percent of the homes sold were in foreclosure.
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