Steel Markets
November 21, 2019
Existing Home Sales Up 1.9 Percent in October
Written by Sandy Williams
Existing home sales had a slight recovery in October, according to the National Association of Realtors. Sales of existing homes, including single-family, townhomes, condos and co-ops, increased 1.9 percent from September to a seasonally adjusted annual rate of 5.46 million. Sales were up 4.6 percent from October 2018.
“Historically low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly contributing to these higher numbers,” said NAR Chief Economist Lawrence Yun. “We will likely continue to see sales climb as long as potential buyers are presented with an adequate supply of inventory.”
