Register Login (480) 240-9724
  • Email
  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube
  • Home
  • Search
    • Search All Properties
    • Search by Map
    • New Build Home Search
    • Featured Listings
    • New Listing Notifications
  • Neighborhoods
    • Chandler
    • Gilbert
    • Mesa
    • Phoenix
    • Queen Creek
    • San Tan Valley
  • Buyers
  • Sellers
    • Sellers
    • What’s My Home Worth?
    • We Buy Houses in Arizona!
  • Blog
  • About
    • Our Agents
    • Our Mission
    • Client Testimonials
    • Explore the East Valley
    • Shea Preferred Realty Group
    • Security Title Agency
  • Contact
Home > Home sales continue to increase

Home sales continue to increase

November 3, 2009 by vleeson Leave a Comment

Phoenix Business Journal – by Jeff Clabaugh Contributing writer

One measure of home sales rose for the eighth consecutive month in September, the longest streak since 2001.

The National Association of Realtors’ index of pending sales of existing homes rose 6.1 percent in September. Pending sales are up 21.2 percent from a year ago, the largest annual increase on record, the NAR says.

“What we are witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” said NAR chief economist Lawrence Yun. “Home values will stabilize sooner rather than overcorrecting.”

Existing home sales, which make up the vast majority of home sales, are leading the recovery. Reports last week said sales of new homes fell 3.6 percent in September,while existing home sales jumped 9.4 percent. Existing home sales were at a two-year high in September. New home sales are down nearly 8 percent from a year ago.

NAR predicts new home sales will continue to lag as home builders hold back production to drive down inventory. New home construction also continues to be hampered by an ongoing credit crunch for construction loans.

Filed Under: Uncategorized

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

New Listing
Notifications

  • Email Alerts for New Homes
  • Save Your Favorites
  • Price Change Notifications
  • Plus More...
Sign Up

What's Your
Home Worth?

Find Out

Categories

Client Testimonials

"Ben Leeson and his real estate company provide an invaluable service helping people buy a new home, having so much knowledge in the Phoenix area and spotting... continued"
- Robert & Phyllis C.
View All

Listing Notifications

Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Email
  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Arizona Experience Realty Group

We strive to provide unparalleled customer service so that our clients, both buyers and sellers, are thrilled with the outcome and comfortable with the entire process. We make it our mission to be resourceful, responsive, and attentive to each client, supporting them with the most progressive and efficient technology.

Meet Us

Arizona Experience Realty Group

36460 N Encanterra Drive
San Tan Valley, AZ 85140

(480) 240-9724
Contact Us

sitemap   •   admin   •   ©2025 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com