Notes and Opinions from one of Arizona's Most Trusted Loan Teams

Existing-Home Sales Jump 5.5 Percent to a 13-Month High

Buoyed by a flood of foreclosures and coupled with lower prices, home resales spiked in September to the highest level in more than a year. According to the latest report from the National Association of Realtors, sales of previously owned properties bounced up 5.5 percent to a rate of 5.18 million units on a seasonally adjusted basis. Besides weighing in as the largest volume in 13 months, last month's data also represented the biggest month-to-month percentage gain in five years and the first year-over-year improvement (1.4 percent) in almost three years.
More - May Require Free Registration | Return to Headlines

From "Existing-Home Sales Jump 5.5 Percent to a 13-Month High"
MarketWatch (10/24/08)

I thought you might enjoy a little good news for a change...JL