Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million in September from 5.05 million in August. Sales are now at their highest pace of 2014, but still remain 1.7 percent below the 5.26 million-unit level from last September.
Charleston SC Market
Pending Home Sales Stats:
How is it that NAR (National Assoc of Realtors) comes up with their statistical data?
The Pending Home Sales Index, a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing Home Sales by a month or two. * Realtor.org
Home prices continued to rise more slowly in August, turning in their smallest year-over-year gains in nearly two years, a closely followed report out Tuesday shows.
The Standard & Poor’s/Case-Shiller 20-City Index of home prices rose 5.6% from August 2013, S&P said.
That’s down from a 6.7% gain in July and well below the double-digit annual increases seen in most of 2013 and earlier this year.
The broader S&P/Case-Shiller National Home Price Index also slowed in August, posting a 5.1% annual gain compared with 5.6% in July.