Sales of Single Family Homes Increased for Fifth Time in the Last Six Months
In particular, the seasonally adjusted annual rate of single-family home sales in the US posted a strong monthly increase of 9.4% in September 2009. According to the NAR chief economist, much of the buying activity is fuelled by people responding to the first-time buyer tax credit. As the graph below indicates, this was the largest monthly increase in the last 12 months and the fifth monthly increase in the last six months. The stable rising trend in single-family home sales in the last six months (April to September 2009) was interrupted by the decrease of 3% registered in August.
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