Outlasting gloomy forecasts for the fall and winter market, the Indianapolis Business Journal recently released news that home resales rose in September to the highest level in more than two years. Buyers scrambled to complete their purchases before the tax credit incentive for first-time owners expires November 1.
The National Association of Realtors said today that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists. The median sales price was $174,900, down 8.5 percent from a year earlier, and slightly lower than August’s median of $177,300.
Submitted by Paul Caldwell
Source: IBJ