September Existing-Home Sales Hit Fastest Pace Of 2014

Forbes ^ | 10/21/2014 | Erin Carlyle

[ConservingFreedom]

Sales of previously-owned homes rose in September to reach their fastest pace in 2014, even though investors are leaving the market. That’s good news for regular people, who are enjoying low mortgage rates and decreased competition for homes.

Sales of existing-homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, according to National Association of Realtors data released Tuesday. Though at their highest pace of 2014, sales remain 1.7% down from a year earlier, when the pace stood at 5.26 million.

“Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last month’s marked decline,” said Lawrence Yun, NAR’s chief economist. “Traditional buyers are entering a less competitive market with fewer investors searching for available homes, but may also face a slight decline in choices due to the fact that inventory generally falls heading into the winter.” [...]

[ArtDodger]

Taking the tax hit this year rather than waiting for the tax surprises of 2015...Not to mention avoiding the new ACA home regulations going into effect soon..