U.S. September home sales decline: RE/MAX

October 19, 2010 12:45PM

RE/MAX saw September U.S. home sales drop 6.4 percent below August levels and 20.6 percent below the levels seen last year, according to the brokerage’s latest monthly report (see the full document below). Prices also dipped month-over-month, by 2.7 percent, but were up 0.9 percent from one year ago nationwide, the report says. And in another indication of a stagnant housing market, homes stayed on the market for an average of 88 days, four days longer than in August and one day longer than last year at this time. Among the promising signs, though, was a 2.8 percent month-over-month nationwide decline in inventory and anecdotal evidence that contract signings are up. RE/MAX attributed the dip in sales volume to “the usual trend of slower sales at the end of the summer” and to the comparative surge in buyers during the spring, who were trying to take advantage of the homebuyer tax credit. TRD

REMAX National Housing Report_September 2010