SALES OF EXISTING HOMES UP 9.4%
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CHARLOTTE, N.C. — Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the housing market remains red hot despite the coronavirus pandemic.
On a seasonally adjusted rate, the selling pace of existing homes climbed to 6.54 million annualized units. That is the highest level for that metric since February 2006.
Housing inventory is at a record low as well, with only 2.7 months of home inventory on the market.
September is typically when home buying slows as the market enters the fall and winter. But because of the pandemic, the spring buying season was pushed into mid- to late summer.
Published in the Baltimore Sun