Sales of existing homes rose sharply in September, offering a glimmer of hope for the troubled housing market, but analysts cautioned that many of the sales were driven by foreclosures that are still pushing prices lower.
The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom. It was the first year-over-year sales increase in since November 2005.
msnbc.com
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