"Existing-home sales — including single-family, townhomes, condominiums and co-ops — rose 5.5 percent to a seasonally adjusted annual rate of 5.18 million units in September, up from a level of 4.91 million in August, according to data released Friday morning by the National Association of Realtors. Sales volume was 1.4 percent higher than the 5.11 million-unit pace in Sept. 2007, the first year-over-year gain posted in existing home sales since November 2005."


SosBoss at 12:22 2008-10-24 said:
Anyone who is still originating purchase transactions can tell you that the home sales numbers for August and September are grossly inflated. The fact is that there was a big push to close as many of the DPA loans as possible before the October 1 deadline. I personally know of several lo's who were doing everything possible to get the DPA transactions to the table. Look for a similar thrust in November and December, although obviously not as great, as the Fannie/Freddie Jumbo limits are set to expire on Jan 1, 2009. Doesn't anyone else see this? :?: Permalink

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