Steel Markets
October 22, 2020
Sales of Existing Homes Soar in September
Written by Sandy Williams
Existing home sales soared in September, up 9.4 percent to a seasonally adjusted annual rate of 6.5 million. Compared to September 2019, sales were up nearly 21 percent, reported the National Association of Realtors.
“Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,” said Lawrence Yun, NAR’s chief economist. “I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.”
