September Existing Home Sales to Rebound


Despite weaker than anticipated sales activity in August, housing remains strong says chief economist Peter Muoio.

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IRVINE, CA—Existing home sales for the month of September are now fall between seasonally adjusted annual rates of 5.23 and 5.57 million annual sales, with a targeted number of 5.4 million – up 1.7% from August and 5.9% from a year ago. This is according to, LLC, the nation’s leading online real estate marketplace, which has just released its latest Real Estate Nowcast.
Earlier this month, the National Association of Realtors(NAR) released its existing home sales data for August, reporting an unexpectedly large 4.8% drop in home sales to 5.31 million units, the second largest decline in more than four years. While the modest growth that the Real Estate Nowcast predicts for September will not be enough to completely recoup all of the losses experienced in August, it shows that sales are expected to move back in the right direction and maintain solid year-over-year progress…
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