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Home Sales Rise 9.4% in September23 Oct

Good news on the home sale front, as sales rose to the highest point in two years. As any good broker will tell you, the Denver real estate market is strong and is only getting stronger. If you are sitting on the fence, get off the fence and get in the market.

WASHINGTON — Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

The National Association of Realtors said Friday that sales rose 9.4% to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

The median sales price was $174,900, down 8.5% from a year earlier, and slightly lower than August’s median of $177,300.

“There’s a mini-boom going on in the housing market,” said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

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