Ekonomické zprávy
21.10.2021

U.S. existing-home sales increase more than expected in September

The National Association of Realtors (NAR) announced on Thursday that the U.S. existing home sales jumped 7.0 percent m-o-m to a seasonally adjusted rate of 6.29 million in September from an unrevised 5.88 million in August. This was the highest reading since January.

Economists had forecast home resales growing to a 6.02 million-unit pace last month.

In y-o-y terms, existing-home sales declined 2.3 percent in September.

According to the report, all four major regions recorded m-o-m gains in existing-home sales in September, but only one of them - the South - managed to avoid a decline in y-o-y terms. The median existing-home price for all housing types in September was $352,800, up 13.3 percent y-o-y. This marked 115 straight months of y-o-y gains.

Single-family home sales came in at a seasonally-adjusted annual rate of 5.59 million in September, being up 7.7 percent m-o-m, but down 3.1 percent from one year ago. The median existing single-family home price was $359,700 in September, up 13.8 percent from September 2020. Meanwhile, existing condominium and co-op sales were recorded at a seasonally-adjusted annual rate of 700,000 units in September, up 1.4 percent from August and up 4.5 percent from one year ago. The median existing condo price was $297,900 in September, an annual advance of 9.3 percent.

"Some improvement in supply during prior months helped nudge up sales in September," noted Lawrence Yun, NAR's chief economist. "Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year."

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