Existing Home Sales Decline; Prices Rise for Seventh Consecutive Month

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Posted To: MND NewsWire

Existing home sales declined slightly in September, but the national median home price rose as inventories tightened. The National Association of Realtors® said that completed transactions of single-family homes, townhomes, condos, and co-ops were down 1.7 percent to a seasonally adjusted rate of 4.75 million units in September. August sales were revised upward from 4.82 million to 4.83 million. The September number is 11.0 percent higher than existing home sales in September 2011 which were at an annual rate of 4.28 million. The national median existing home price increased on an annual basis for the seventh consecutive month to $184,900 . This was 11.3 percent above the September 2011 median of $165,300. The last time there were seven consecutive year-over-year increases was from November...(read more)

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