NAR: Sales up on improved affordability

Real estate brief

The National Association of Realtors today reported that cheaper home prices and borrowing costs helped push sales of existing homes higher in September.

According to NAR, existing-home sales (including single-family, townhomes, condominiums and co-ops) rose to a seasonally adjusted annual rate of 5.18 million units last month, up 5.5 percent from August and up 1.4 percent from September 2007.