Existing Home Sales for September UP 10% nationally compared to August. The annual rate of existing home sale is now 4.53 million. This was the second straight monthly gain after July’s record low following the expiration of the tax credits. The national median price for existing homes is now at $171,700, down 2.4% from a year ago. Unsold inventory dropped 1.9% from the prior month to a 10.7 months’ supply.
New Home Sales for September were UP 6.6%, coming off record lows in July and August. The median new home price rose 3.3% from the year before, now at $223,800. The supply also came in at 8 months, with the actual number of unsold new homes the lowest it’s been since 1968.
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