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Home sales up slightly in September

Home sales climbed 0.3 percent since August while increasing 14.5 percent above the level of home sales seen in September 2011. 

By Guest blogger / October 25, 2012

This graph shows the seasonally adjusted national pending home sales index along with the percent change on a year-over-year basis as well as the percent change from the peak set in 2005.

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Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for September showing that pending home sales improved slightly with the seasonally adjusted national index climbing 0.3% since August while increasing 14.5% above the level seen in September 2011. 

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Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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Meanwhile, the NARs chief economist Lawrence Yun suggests that while recent pending sales activity has been bouncing around the old familiar "narrow range", 2013 should bring a continuation to the overall uptrend:

"Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow range, ... This means only minor movement is likely in near-term existing-home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013."

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