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September’s Home Sales Data Reflects Continued Recovery

Housing economist Tom Lawler recently spoke to Calculated Risk, an industry respected finance and economics blog, where he cited September data that points to a continued, albeit slow, housing recovery.

Lawler looks at varied categories of monthly existing home sales, from local realtors and multiple-listings-service sources, like short sales, foreclosures and cash buyers. For September, he examined these typologies as they pertained to selected cities including Las Vegas, Reno, Phoenix, Sacramento, Tucson, Memphis and a few others.

"While I do not yet have enough local realtor/MLS reports to produce a reliable estimate for national existing home sales last month,” said Lawler, “my very early read is that NAR-based existing home sales ran at a seasonally adjusted annual rate of about 5.14 million in September, up 1.8 percent from August."

Read the full article from Calculated Risk here.

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