Used home sales rise .7% | Waccabuc Real Estate

Sales of previously owned houses in the United States rose 0.7 percent month-over-month to a seasonally adjusted annual rate of 5.39 million in September 2017 from a year low of 5.35 million in August, beating market expectations of a 1 percent fall. Still, ongoing supply shortages and recent hurricanes muted overall activity. Sales of single family houses increased 1.1 percent to 4.79 million after falling 2.1 percent in August, while those of condos fell 1.6 percent to 0.60 million, following a 1.7 percent decline. The median house price fell to $245,100 from $253,100 in August and the months’ worth of supply was steady at 4.2 percent. In addition, the number of houses available in the market rose to 1.90 million from 1.87 million in August. Existing Home Sales in the United States averaged 3912.19 Thousand from 1968 until 2017, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.