U.S. Existing Home Sales At One-Year High, Prices Up

[Purveyor]

Source: REUTERS

By Lucia Mutikani
WASHINGTON Tue Oct 21, 2014 1:39pm EDT

(Reuters) - U.S. home resales raced to a one-year high in September, the latest indication the housing market recovery is gradually getting back on track.

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The National Association of Realtors said existing home sales increased 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year.

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While home sales picked up last month, first-time buyers, a critical component for a sustainable recovery, remained on the sidelines. They accounted for 29 percent of sales for a third straight month, below the 40 percent to 45 percent that is considered ideal by economists and real estate agents.

"We need to see more first-time buyers both willing and able to buy, without the support of excessively easy credit, if we really want to see a healthier and more sustained recovery in housing," said Diane Swonk, chief economist at Mesirow Financial in Chicago.



Read more: http://www.reuters.com/article/2014/10/21/us-usa-economy-housing-idUSKCN0IA1MH20141021

[3rdwaydem]

1. Wonderful news.

More people now have jobs and money to buy a home thanks to the successful economic policies of President Obama. Those who were underwater in their homes are getting back to the pre-Bush recession price levels.

[cstanleytech]

2. Nope not really. Things wont be better until wages and hours increase for people but any real

movement on that is clearly going to take an act of congress and considering the republicans control it and the corporations control most if not all of them I wouldnt count on any improvements until that changes.

[3rdwaydem]

3. I don't disagree with the gist of what you are say but

economically, things have gotten better under President Obama.

[cstanleytech]

4. Its more like we arent in freefall anymore.

I think if congress and the senate had remained firmly in the hand of the democrats that we probably could have been far better but sadly the democrats lost congress to the republicans who once they took back over congress then decided that their plan would be to bend most of us over and use us repeatedly.

[Botany]

5. thanks Obama

And what fueled much of the economic down turn from 2007 to 2010? ...… the collapse of the housing market.

And yet the media is pushing the meme that republicans are going to sweep back into power because people are mad at Obama ..... the man has done an awesome job end of fucking story.

[Fred Sanders]

6. Did Reuters report on the realtors fleeing from the announcement because Obama might be there?

Sorry for the snark, I have had to add Reuteurs to my list of propaganda news aggregators after their outright lying about audience attendance and reaction at election rallies Obama has attended.

[Purveyor]

7. If I had to restrict articles from every source that somebody labeled as a 'propaganda

news aggregator', there would be no articles to post.

I just put them up...others can decide.

[Fred Sanders]

8. No offence was intended, Reuters aggregates, but they also aggravate.