From CNN.com, The CNN Wire, October 24th, 2008
NEW YORK (CNNMoney.com) — Sales of existing homes in the United States rose in September, according to the latest reading on the battered housing market by an industry trade group.
The National Association of Realtors reported Friday that sales by homeowners jumped 5 percent in September to an annual pace of 5.18 million, up from the August reading of 4.91 million. It was the largest month-to-month increase since July of 2003.
September sales were up 1.4 percent from a year earlier. Economists surveyed by Briefing.com expected the report to show existing home sales rose to an annual pace of 4.95 million.
But prices still continued to fall. The median price of all homes sold during the month fell to $191,600, down 9 percent from $210,500 a year ago. Before the start of the current housing slump, it had been 11 years since prices fell compared to a year earlier.
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