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Economy in Brief

U.S. Existing Home Sales Rebounded
by Tom Moeller October 25, 2004

Existing single family home sales rebounded 3.1% in September to 6.75M following two months of decline that were little revised. Consensus expectations had been for a roughly unchanged reading at 6.54M.

The figures reflect closings of home sales in earlier months.

Sales rose across the nation except in the South where they fell for the second month (+0.8% y/y).

The median price of an existing home fell for the third consecutive month to $186,600 (+8.6% y/y), down 2.3% from the peak.

Existing Home Sales (000, AR) Sept Aug Y/Y 2003 2002 2001
Existing Single-Family  6,750  6,550 1.0% 6,098 5,593 5,290
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