US Home Sales Increased by More than 10% in the Third Quarter of 2009
US home sales increased by more than 10% in the third quarter of 2009 according to quarterly data released on November 10 by the National Association of Realtors (NAR).
In particular, the seasonally adusted annual rate of US home sales in the third quarter of 2009 climbed to 5.3 million units, representing an 11.4% increase compared to seasonally adusted annual rate of 4.575 million units sold in the second quarter of 2009. Note that this represents a significant acceleration of the growth rate in US home sales, as in the second quarter they posted an increase of only 3.8%.
US home sales increased in Q3 2009 in all US regions at double-digit rates with the exception of the West, where home sales increased by 5.6% following a drop of 2.6% in Q2 2009.
The largest quarterly increase in home sales in Q3 2009 was registered in the Northeast where the seasonally adjusted annual rate climbed by 16.7%, following an equally strong increase of 15% in Q2 2009.
Midwest posted the second best performance with an increase of 13.2% in home sales, following an increase of 3.2% in Q2 2009. Finally, in the South, home sales increased by 11.3% in Q3 2009, following an increase of 4.1% in Q2 2009.
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