NAR: Sales up on improved affordability

Real estate brief

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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.