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- The barometer (which tracks industry optimism in market improvements) posted high readings for Q3 across all industry groups.
- Architects reported a five-quarter decline in confidence in market gains.
- Remodelers and design-build firms reported that labor shortages are driving cost increases.
- Potential existing-home sales increased to a 5.8 million seasonally adjusted, annualized rate (SAAR).
- In September, the market potential for existing-home sales grew by 6.5 percent compared with September 2015.
- The potential existing-home sales is 351,000 (SAAR) or 6.0 percent below the pre-recession peak of market potential, which occurred in July 2005.
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- Home sales fell 11.7 percentage points from August to September.
- However, home sales were up 2.0 percentage points form September 2015 to September 2016.
- The median sales price in September was $219,780, 5.1 percent above one year ago.
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