Economics
U.S. Existing-Home Sales Rise 7%, the Most in a Year
- Contract closings gain of 7% was largest since September 2020
- Median selling price eased slightly but remains elevated
Photographer: Daniel Acker/Bloomberg
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Sales of previously owned U.S. homes rose in September by the most in a year, suggesting a slight easing in home-price growth and lower mortgage rates a month earlier provided a tailwind for demand.
Contract closings increased 7% from the prior month, the most since September 2020, to an annualized 6.29 million, figures from the National Association of Realtors showed Thursday. The median forecast in a Bloomberg survey of economists called for a 3.7% gain.