Posted: Oct 25, 2012 10:06 AM by Associated Press
Updated: Oct 25, 2012 11:04 AM
WASHINGTON (AP) - Some economists expect the rising trend in home sales to continue -- though they believe there will be some weaker months this fall.
One sign of weakness comes in the report from the National Association of Realtors on September sales. It says the number of Americans who signed contracts to buy homes rose only slightly.
Still, contracts are up by 14.5 percent from a year ago.
The housing market has been recovering this year, helped by the lowest mortgage rates in decades and a limited supply of homes for sale.
Economist Joseph LaVorgna of Deutsche Bank says the new numbers "suggest that existing home sales are likely to flatten over the next month or two." But he says sales should "resume their uptrend" after that.
New home sales jumped last month to the highest annual pace in two and a half years.
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties