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Home Sales Jump to Highest Levels in Two Years
September marked a sharp turnaround in the housing market, according to a report released Friday by the National Association of Realtors, CNN Money reports. Boosted by first-time home buyers, sales of previously owned homes rose 9.4 percent in September to the highest level since July 2007. An NAR chief economist said first-time buyers are responding to a special tax credit on their home purchase. The report shows sales were strongest in the western United States, which had a growth rate of 13 percent.
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David Sessions
David Sessions is a journalist based in New York who covers politics, religion, and the arts. He is the founding editor of patrolmag.com. ...moreComments (9)
moderate
11:48AM Oct 23rd 2009
Sounds like the same no docs L.O. are up to their dirty tricks again. A few greedy aholes give the whole industry a bad name.
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gatso27
11:52AM Oct 23rd 2009
I am happy that people are buying homes but l wonder if an article in my local newspaper dated July30th had anything to do with those nice figures quoted. The banner of the article is FRANK THREATENS BANKS TO STOP FORECLOSURES. Barney Frank that is. Is in it amazing the results that government can get by applying a litte pressure in the right places.
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(-1) bdozer1947
11:56AM Oct 23rd 2009
The stock market is up the housing is coming back, more terrorist killed in eight months than the last eight years. We have a a fresh reputation in International circles again. A president that can speak clearly and a new optimisem that was gone for over eight years. Obama is doing America well and God bless the man and his plan. Welcome back America
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(-1) ettu
11:58AM Oct 23rd 2009
Wait for the second shoe to drop. People are again buying something they cannot pay for. Our tax dollars are being given to 4 year olds, IRS workers, etc., with no way to check on who is getting the money. Another well run government program. Obama is an a$$. Sits and ponders about giving our troops what they need, but continues to throw our money at people and programs that just do not do a thing for our economy. It is all a scam, a con game played on the American people.
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(3) opus1dog
12:02PM Oct 23rd 2009
Repubtards hate good news like this because it gives them less fuel for their "hate America" fire.
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(-2) Randy
12:10PM Oct 23rd 2009
this rather intresting
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(2) Charles Queen
1:16PM Oct 23rd 2009
Well it's like this.They have a locked in low interest rate morgage which is a good thing,but on the other hand most of them will never live long enough to actually own the homes their buying outright so it's still a no win scenario.As far as houses selling like hotcakes,sure they are to the wealthy that buy up numbers of them then in turn lease them
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(1) rthompson1329
1:52PM Oct 23rd 2009
must be the rich buying tax dedutions. unemployment is sky high still, gas is on the rise again and the dollar is on the decline.
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(2) Leslie
5:33PM Oct 23rd 2009
If you take out all the $8000 incentives for first home buyers, I wonder what the numbers are?
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