After a slow summer for home sales, the housing market is attempting to return to traditional seasonal trends, according to RE/MAX’s National Housing Report for September. The spring rush to qualify for the homebuyer tax credit caused a summer sales slump but, despite the lull in activity, the month of September saw an increase in signed contracts, stabilizing prices, and a drop in inventory. Margaret Kelly, CEO of RE/MAX, said slow summer sales were anticipated and increases in signed contracts should translate into sales gains in the months ahead. Also in the report, home prices were up 0.9 percent from 2009 and 33 of the 54 metro areas surveyed showed year-over-year price increases. Inventory of homes on the market fell 2.8 percent in September. More here.
Theresa Springer’s Blog
Survey Says Housing Market On The Mend
October 21, 2010
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