Home resales in West post 5 percent annual gain
Home sales surged in the Western region of the country last month as many first-time homebuyers rushed to complete their deals before a temporary tax credit expires next month, according to two reports released Friday.
Sales in the 13-state region rose 5 percent from September a year ago, according to the National Association of Realtors. Foreclosures and other financially distressed homes continued to dominate transactions in some parts of California, Arizona and Nevada. That dragged the median price down 15 percent to $219,000.
Nationally, sales posted an 8 percent annual increase in September, without adjusting for seasonal factors. The median price fell about 9 percent to $174,900.
Full story is available on The Seattle Times
