Lost in the shuffle of a National Election and an imploding economy, a number of real estate and housing indicators were released over the past few weeks, all of which bear note:
National Association of Realtors Existing Home Sales Index: Existing home sales rose in 5.5 percent in September, and were 1.14 percent higher than September 2007. In the South, sales rose 2.2 percent, but remained 7.8 percent below last year.
Case/Shiller: The 10-city index showed a loss of 1.1 percent in August and a yearly drop of 17.7 percent. The 20-city index fell 1.0 percent in August, and 16.6 percent for the year. Both were new record declines. Atlanta saw prices decline 0.2 percent in August, and they were 8.5 percent below August 2007.
New Residential Home Sales: According to the Census Bureau, sales of new single-family homes rose 2.7 percent in September, but were 33.1 percent below September 2007. The South saw sales of new homes increase only 0.7 percent from August, and remain 37.9 percent under last year’s levels.
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