Home sales climbed in September to highest level in two years…buyers rushing to take advantage of tax credits before they expire…

(Source: Bloomberg)

Sales of existing U.S. homes climbed in September to the highest level in more than two years as homebuyers rushed to take advantage of a tax credit before it runs out.

Purchases jumped 9.4 percent to a 5.57 million annual rate, more than forecast and following a 5.09 rate in August, the National Association of Realtors said today in Washington. The median price fell at the slowest pace in a year as the number of houses on the market shrank.

Read the full article by Bob Willis “Existing Home Sales in U.S. Jump More Than Forecast” at Bloomberg (Oct. 23, 2009).

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