Real Estate Sales Up!

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Alabama Real Estate

By NickM ⋅ October 27, 2008 ⋅ Post a comment

US real estate sales now up!

House sales are officially up in Unites States of America amid some of the lowest real estate house prices in years

NAR President Richard F. Gaylord said low home prices and low interest rates have been attracting buyers. “This is the first time since November 2005 that home sales have been above year-ago levels,” he said. “Credit tightened at the end of September, but the improvement demonstrates that buyers who’ve been on the sidelines want to get into the market to make a long-term investment in their future.”
the US.

Existing home sales increased in September, 2008 both from August and from the same time in 2007 according to the National Association of Realtors. Single family, town homes, condominiums and co-op sales, which are all grouped in the existing home category, rose 5.5 percent from August to a seasonally adjusted annual rate of 5.18 million units for September. That is also a 1.4 percent increase from the 5.11 million unit pace in September of 2007.

The government reported stronger-than-expected sales Monday as discounted properties in subprime hot spots such as California, Florida and Las Vegas fueled a rise in new-home sales. Sales rose 2.7%, to a seasonally adjusted annual rate of 464,000, well above the 450,000 annual units economists had projected. Though a downward revision of August home sales put a damper on the news with sales being adjusted to a 452,000 annual unit pace from 460,000.

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