Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Existing Home Sales Show 10% Gain in Sept.
Oct 26, 2010
 Printable format
 Email this Article
 Search

Existing-home sales were up again in September, according to the National Association of Realtors.

Existing-home sales - completed transactions that include single-family, townhomes, condominiums, and co-ops – were up 10.0% to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August. Sales remain 19.1% below the 5.60 million-unit pace in September 2009.

NAR points out that, in September 2009 first-time buyers were making more home purchases in advance of the first deadline for the federal tax credit (in November 2009).

Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium," Yun said. "But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions."

Freddie Mac reported the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35% in September from 4.43% in August; the rate was 5.06% in September 2009.

The national median existing-home price for all housing types was $171,700 in September, down 2.4% from a year ago.

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

Total housing inventory at the end of September fell 1.9% to 4.04 million existing homes available for sale, which represents a 10.7-month supply at the current sales pace, down from a 12.0-month supply in August. Raw unsold inventory is 11.7% below the record of 4.58 million in July 2008.

Back to Daily News

 

Daily News

...........................................................

Dec 17, 2014: Bosch names Kenny head of marketing

Dec 17, 2014: Multifamily Production Index off its peak, but still positive

Dec 17, 2014: AHRI launches two new certification programs

Dec 16, 2014: Arçelik awarded for fridge with integrated ice-cream bowl

Dec 16, 2014: Report: appliance segment at the top of 2014 reshoring list

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows