Talk of the Town - Real Estate News from the Hamptons and North Fork

October 24, 2014

Home Sales Reach 12-Month High

By Reuters Sales of existing homes climbed to a one-year high in September, the latest indication the housing market recovery is gradually getting back on track.   The National Association of Realtors said existing-home sales increased 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year. That was above economists’ expectations for a rise to a 5.1 million unit pace and more than reversed August’s decline, which pushed down the annual rate of sales to 5.05 million units. Still, sales were 1.7 percent below those for September of last year.   “The housing recovery continues to move along sluggishly, as consumers are stuck between tight credit standards and limited wage growth,” said...

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