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US home resales post unexpected rise in September

Sales increased in the West by 3.3% and in the Midwest by 1.6%

Reuters  |  Washington 

US home resales unexpectedly increased in September as the effects of Hurricanes Harvey and Irma began to dissipate, but a persistent dearth of properties for sale continued to weigh on overall activity. The National Association of Realtors said on Friday existing home sales rose 0.7 percent to a seasonally adjusted annual rate of 5.39 million units last month. August's sales pace was unrevised. Economists polled by Reuters had forecast sales falling 1.0 percent to a rate of 5.30 million units last month. Sales were down 1.5 percent from September 2016, the first ...

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First Published: Fri, October 20 2017. 20:49 IST
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