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Local and National Real Estate Market Report Oct. 2016 James Potenza
National market update
First-time Buyers Steer Existing-Home Sales Higher in September WASHINGTON (October 20, 2016) — Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.

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National housing indicators Existing home sales (September) 5.47 millions units*
Existing home median price (September) $234,200
Housing Starts (September) 1.047 millions units*
New home sales (August) 0.609 millions units*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.
National economic indicators Home ownership 3rd Quarter 2016 63.5%
3rd Quarter 2015 63.7%
  The homeownership rate of 63.5 percent was 0.2 percentage points (+/-0.5)* lower than the third quarter 2015 rate (63.7 percent) and 0.6 percentage points (+/-0.5)* high than the second quarter ... more

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