Home sales rise in Sept., beat forecasts

[one...two...tree 2,762]

AP

WASHINGTON – Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

The National Association of Realtors said Friday that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

The median sales price was $174,900, down 8.5 percent from a year earlier, and slightly lower than August's median of $177,300.

"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

http://www.azcentral.com/business/realesta...3homesales.html

[BishopMnA 0]

C4C supports the redistribution of wealth via the Obama Tax Credit for first time homebuyers. In fact, I took advantage of it myself.

I'm just sayin'...Thank$!

[one...two...tree 2,762]

C4C supports the redistribution of wealth via the Obama Tax Credit for first time homebuyers. In fact, I took advantage of it myself.

I'm just sayin'...Thank$!

lol

[natty bumppo 297]

AP

WASHINGTON – Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

The National Association of Realtors said Friday that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

The median sales price was $174,900, down 8.5 percent from a year earlier, and slightly lower than August's median of $177,300.

"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

http://www.azcentral.com/business/realesta...3homesales.html

define the meaning of a 1st time home buyer .......

[lostinblue 1,989]

It is just another cash for clunker deal. stick around for a few months and see what happens.

http://money.cnn.com/2009/10/20/real_estat...sion=2009102009

Homes: About to get much cheaper

National home prices are forecast to shrink another 11%. Miami, Las Vegas and Phoenix will record steep declines, but a few cities will actually post gains.

NEW YORK (CNNMoney.com) -- If you thought home prices were bottoming out, you may be wrong. They're expected to head a lot lower.

Home values are predicted to drop in 342 out of 381 markets during the next year, according to a new forecast of real estate prices.

[tallcoolone 102]

Right now Banks or Fannie Mae/Freddie Mac are holding off putting a lot of foreclosed inventory on the market.

They are just holding them, hoping the market comes back and they can sell them at better price.

I purchased a short sale / preforclosure in a area north of Dallas that has a very high Foreclosure rate, and there are tons of empty foreclosed houses just waiting to be put on the market