October 25, 2010
September Used Home Sales 19% Below 2009
By Matthew L. Brown
Sales of existing homes increased 10 percent to an annual rate of 4.5 million in September, according to the National Association of Realtors.
The association revised its August estimate down to an annual rate of 4.1 million.
September's totals are still 19 percent behind 2009 levels, when existing homes sold at an annual rate of 5.6 million.
The national median existing home price was $171,700 in September, 2.4 percent below a year ago. Distressed homes accounted for 35 percent of sales compared to 34 percent in August and 29 percent in September 2009.
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