Sales of existing homes fell in September, suggesting that the US Housing market continues to be suffering from consumer pessimism and the high unemployment above 9 percent.
Purchases in September dropped 3.0 percent to a 4.91 million annual rate, reported the National Association of Realtors.
The median price dropped 3.5 percent from a year ago levels to $165,400.
In addition, the cancellation rate was still high as 18% of real-estate agents reported at least one.
Considering the above, many economists believe that the US Housing market will NOT come back until the end of 2012 or possible later.
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