Sunday, December 23, 2012

Home sales rise 2.1 percent in October | Synopsis

Home sales rise 2.1 percent in October

060809 Market Madness
060809 Market Madness by Nico Nelson
License (according to Flickr): Attribution License
Excerpt:

WASHINGTON U.S. sales of previously occupied homes rose solidly in October, helped by improvement in the job market and record-low mortgage rates. The increase along with a jump in homebuilder confidence this month suggests the housing market continues to recover. The National Association of Realtors said Monday that sales rose 2. 1 percent to a seasonally adjusted annual rate of 4. 79 million. That's up from 4. 69 million in September, which was revised lower. The sales pace is roughly 11 percent higher than a year ago. But it remains below the more than 5. 5 million that economists consider consistent with a healthy market. Superstorm Sandy delayed some sales in the Northeast, the Realtors' group said. Sales fell 1. 7 percent there, the only region to show a decline. Those sales will likely be completed in future months, the group said.

People:

Ben Bernanke

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Superstorm Sandy

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Additional Info:

Organization: National Association of Realtors

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Organization: Mortgage Bankers' Association

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Organization: Realtors

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Company: RealtyTrac

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Country: U.S.

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Disambiguation: Location | Region | AdministrativeDivision | GovernmentalJurisdiction | FilmEditorReferences:

Region: Northeast

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StateOrCounty: WASHINGTON

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