Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years.
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%.
The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago.
Home resales climbed 2% last month as the housing market continues its slow, steady recovery.
Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm.
Home resales slipped last month; a temporary setback for the housing market’s recovery.
Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice.
In March, for the second straight month, home resales slipped nationwide.
Despite sparse home inventory, the National Association of REALTORS reports that 4.59 million “existing homes” were sold in February on a seasonally-adjusted, annualized basis.
January’s home resales moved to a 20-month high — additional evidence that the nation’s housing recovery is underway.