Home sales fall 1.7 percent in September
The National Association of Realtors' most recent Existing Home Sales Report shows a decline of 1.7 percent in sales since August. Home sales still rose above 11 percent the level a year ago.
Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for September showing a decline in sales with total home sales falling 1.7% since August but still rising 11% above the level seen in September 2011.
Single family home sales also declined dropping 1.9% from August but still rising 10.8% above the level seen in September 2011 while the median selling price declined slightly on the month but increased 11.4% above the level seen a year earlier.
Inventory of single family homes declined 4.2% from August dropping 18.1% below the level seen in September 2011 which, along with the sales pace, resulted in a fairly balanced monthly supply of 5.8 months.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.