Let’s take a moment and thank September for a great month in national home sales. The rise in home sales continues and this past month is quite indicative.
For existing home sales–5.17 million, it was the strongest month in an entire year, according to a report by Zillow, a real estate research company. This total is also up 2.4 percent from last month. The volume of these existing home sales had been on a decline, but this month turned that around.
Not only was existing home sales up, but also the price of these homes. The average cost of these homes was $209,000, which was up 0.6 percent from August and 5.7 percent from last September. The rate of this increased sales price was twice as fast as it was from September 2012 to September 2013.
“The housing market is getting back to the basics and this was a much needed rudimentary change that has contributed to the increase in sales volume year over year,” said Lowell Pinnock, Houston Division Sales Manager for Design Tech Homes.
Not only should we be thankful for the month that launches fall, but we should also be thankful for the months of summer since this research suggests that the reason for the positive September is because of the three previous months.