Home Sales Pull Back From 18-Month Highs

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Posted To: MND NewsWire

Sales of existing homes, which had posted advances in both July and August, fell back in September. The National Association of Realtors® (NAR) said sales of single-family houses, townhouses, condominiums, and cooperative apartments were completed at a seasonally adjusted annual rate of 5.38 million in September compared to a rate of 5.490 million in August, a decline of 2.2 percent . Existing home sales had grown by 2.5 percent in July and 1.3 percent in August. September sales were 3.9 percent higher than the 5.18-million-unit pace in September of 2018. Sales of single-family homes dropped from an annual rate of 4.91 million in August to 4.78 million in September, but they are also 3.9 percent higher than the previous September. Condo sales rose 1.7 percent to an annual rate of 600,000…(read more)

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