Existing home sales nationwide were down up 11 percent year-over-year in September, CNBC’s Diana Olick reports in the video above. The national total of 4.75 million units sold was in line with projections and represents the continued move away from the sale of distressed assets in the national housing market, Olick said.
Month-over-month sales were down 1.7 percent, she noted. Statistics came from the National Association of Realtors, whose data has been challenged in the past.
However, this was the 15th straight month of year-over-year price increases, and the number of homes on the market was down 3 percent month-over-month, and 20 percent year-over-year, Olick said. [CNBC] –Guelda Voien