WASHINGTON — Existing home sales surged 9.4% in September to a 5.57 million annual rate, the highest pace of sales in more than two years, the National Association of Realtors announced Friday.
Economists polled by Thomson Reuters expected existing homes to sell at a 5.35 million annual rate in September, according to the median estimate. Sales in August were revised to a 5.09 million rate from the initially reported 5.1 million sales pace.
The median home price was $174,900, representing an 8.5% decline from September 2008.
