September Sales Post Modest Rise
Metropolitan Monthly Monitors: Metro Resale Index October 2010
Metropolitan Monthly Monitors: Metro Resale Index October 2010
Urban City Economic Analysis
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- Resale markets are perking up. September sales were above August’s on a seasonally adjusted basis in 17 of our 28 markets. But sales remain below the strong levels posted in September 2009 in 27 of 28 areas.
- Sellers continue to gain confidence as sales levels firm. September listings were up on a month-to-month basis in 16 markets and exceeded year-earlier levels in 18.
- Markets are improving, but at an uneven pace. The sales-to-listings ratio rose in September in 16 markets, but remained below year-earlier levels in 25. Only four were “buyer’s” markets, down from six in August.
- Pricing is improving. September’s year-over-year growth was higher than August’s in 16 areas, and prices exceeded September 2009 levels in 22 markets.
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