U.S. home sales cooled a bit last month, but were still the highest of any September since before the housing crisis
U.S. home sales slowed a little in September, but still set a post-crisis record, according to a new report.
There were more completed transactions last month than in any September since the housing crisis began, according to the RE/MAX October 2015 National Housing Report. As usual, sales slowed a bit from summer, with September sales 8.6% lower than August sales, but still 6.8% higher than September of 2014.
“Home sales usually cool down in the fall and it looks like this year is no exception, but September is falling right in line with the summer months with sales much higher than last year,” said Dave Liniger, chairman, CEO and co-founder of RE/MAX. “Prices are also moderating on a month-to-month basis, and mortgage rates remain low. This translates to more attractive home affordability.”
According to the report, the each of the last eight months have each recorded the highest number of sales for that month since RE/MAX began the survey in 2008. Last month, 45 out of the 53 metro areas RE/MAX surveyed showed higher annual sales.
Wichita, Kansas, saw the largest increase at 22%, followed by Manchester, N.H. (21%), Boise, Idaho (18.8%), Wilmington, Del. (17.3%), Richmond, Va. (16.4%) and Kansas City, Mo. (15.1%).
The median sale price for homes has risen on an annual basis for 44 consecutive months, according to RE/MAX.
There were more completed transactions last month than in any September since the housing crisis began, according to the RE/MAX October 2015 National Housing Report. As usual, sales slowed a bit from summer, with September sales 8.6% lower than August sales, but still 6.8% higher than September of 2014.
“Home sales usually cool down in the fall and it looks like this year is no exception, but September is falling right in line with the summer months with sales much higher than last year,” said Dave Liniger, chairman, CEO and co-founder of RE/MAX. “Prices are also moderating on a month-to-month basis, and mortgage rates remain low. This translates to more attractive home affordability.”
According to the report, the each of the last eight months have each recorded the highest number of sales for that month since RE/MAX began the survey in 2008. Last month, 45 out of the 53 metro areas RE/MAX surveyed showed higher annual sales.
Wichita, Kansas, saw the largest increase at 22%, followed by Manchester, N.H. (21%), Boise, Idaho (18.8%), Wilmington, Del. (17.3%), Richmond, Va. (16.4%) and Kansas City, Mo. (15.1%).
The median sale price for homes has risen on an annual basis for 44 consecutive months, according to RE/MAX.
