According to MSNBC, existing-home sales jumped 10% in September, creating the largest monthly gain in 10 years! The monthly gain was bigger than expected, indicating the housing market is stabilizing at weaker levels and continues to struggle.
The National Association of Realtors said sales increased 10 perfect from August, rising for a second straight month, to an annual rate of 4.53 million units. August's sales pace was revised slightly down to a 4.12 million unit pace.
Michelle Meyer, senior U.S. economist at Bank of America Merrill Lynch in New York states that she hasn't changed her outlook for the housing market and expects home prices to fall another 5 to 8 percent. She also doesn't expect the housing market to bottom until the third quarter of next year.
To read the full article, visit msn.com
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment