Surprise rise for US existing home sales in September, a sign of the recovery of the real estate sector after the turbulence caused by the hurricanes that hit the south of the country. The indicator, compiled by the industry association National Association of Realtors (NAR), rose 0,7% to 5,39 million units, after falling 1,7% in August.
Analysts were expecting a drop of 0,9% to 5,30 million. Existing home sales, which account for 90% of total sales and are considered the litmus test of housing market health, are down 1,5% on a year-over-year basis compared to September 2016. Homes were up 4,2% from last year to $245.100.
It would take 4,2 months to completely sell out the houses available for sale, against 4,5 months in the previous year.
