Condo Sales in the South Posted an Annual Increase of Over 40% in September 2009
Condo sales in the South posted a year-over-year increase of over 40% in September 2009 according to the lastest data released by the National Association of Realtors (NRA).
In particular, the non seasonally-adjusted sales of condo/co-ops in the South increased from 12,000 units in September 2008 to 17,000 units in September 2009, representing a year-over-year increase of 41.7%.
On a monthly basis, condo sales in the South posted also a very strong gain. In particular, the seasonally adjusted annual rate of condo/co-op sales for this US region registered a monthly increase of 17.6%.
As the graph below indicates, this was the second largest monthly increase posted in the South in the last twelve months. This was also the fourth increase in the last five months as condo/co-op sales in the South decreased in August by 5.6%.
Condo/Co-op Sales in the South: Monthly Trends October 2008-September 2009
Sources: National Association of Realtors, www.Property-Investing.org
The largest monthly increase in condo sales in the South took place in February 2009 when the seasonally adjusted annual rate jumped by 27.3%. The largest monthly decrease in condo/co-op sales in the South took place in January 2009 when the seasonally adjusted annual rate dropped 18.5%.