Home sales in the United States jumped to an eight-month high in September, but rising prices following persistent shortages pushed first-time buyers out of the housing market.
The National Association of Realtors said on Thursday that existing home sales rose 7%, the largest increase in a year, at a revised annual rate of 6.29 million units last month, the highest level since January.
Economists interviewed by Reuters had expected sales to rise to 6.09 million units. Sales have increased in all four regions.
Home resales, which account for the majority of US home sales, fell 2.3% year-on-year.
Current average home prices rose 13.3% from a year ago to $ 352,800 in September, the lowest increase of quest’year.
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