Existing-home sales up again in September

Source: National Association of Realtors

WASHINGTON — Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August.

These sales remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.

The national median existing-home price for all housing types was $171,700 in September, which is 2.4 percent below a year ago.

Distressed homes accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.