Â
Sponsored by
NATIONAL NEWS
Economists say home sales may see some slow months, but uptrend will continue
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 feedback@ksby.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
KSBY.COM VIDEOS
-
"Monster" reunited with owner after his cage was blown away during Oklahoma tornado
Views: 97 May 22, 2013 -
Joshua Hornsby mourns the loss of his young daughter killed in the Oklahoma tornado
Views: 26 May 22, 2013 -
Watch as a local meteorologist tracks the path of deadly tornado as it hits Moore, Oklahoma
Views: 273 May 21, 2013
Comments