Existing Home Sales: One-Year High in September

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Data represents home sales closed in July and August 2014-Stefan

 

Existing Home Sales: One-Year High in September

Tuesday, 21 Oct 2014 | 10:00 AM ETReuters

U.S. home resales jumped to their highest level in a year in September, the latest indication that the housing market recovery is gradually getting back on track.

The National Association of Realtors said on Tuesday existing home sales rose 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year.

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Scott Mlyn | CNBC

Economists polled by Reuters had forecast sales rising to a 5.10 million unit pace last month from August’s 5.05 million unit pace. Sales, however, were down 1.7 percent compared to September of last year.

Data last week showed a rebound in home building in September. Housing is slowly regaining its footing after activity stalled in the second half of 2013 in the aftermath of a run-up in mortgage rates.

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