Existing Home Sales Rise Following Falls

Jan. 13, 2005
By John S. McClenahen After declining in July and August, sales of existing single-family homes rose again in September, according to data released on Oct. 25 by the Chicago-based National Association of Realtors (NAR). September sales were at a ...
ByJohn S. McClenahen After declining in July and August, sales of existing single-family homes rose again in September, according to data released on Oct. 25 by the Chicago-based National Association of Realtors (NAR). September sales were at a seasonally adjusted annual rate of 6.75 million units, up 3.1% from August's 6.55 million rate. A steady decline in mortgage interest rates since June is now translating into higher sales, says David Lereah, NAR's chief economist. "Since 1971, there have been only five months when mortgage interest rates were lower, and all of those have been during the last year and a half," he notes. "The good news is that interest rates have been fairly stable over the last month, hovering near generational lows, and that is increasing the purchasing power of buyers trying to get into the housing market." Observes UBS Investment Research, "With mortgage applications moving sideways in October, the implication is that existing sales could be set for another gain this month."

Popular Sponsored Recommendations

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

See how 3M Enabled B2B Buyers with Trustworthy Self-Service Buying Experiences

Sept. 11, 2023
This one-pager explores the importance of enabling B2B buyers with self-service purchasing experiences that engender trust and provides insights into the steps businesses can ...

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!