Existing-home Sales Increase in Latest NAR Report
October 25, 2016 •
Existing-home sales, which are a major driver of demand for architectural coatings, showed strength in September, rising 3.2 percent over August sales, based on a seasonally adjusted annual rate of 5.47 million. The National Association of Realtors (NAR), which reported the sales of existing homes figures, also noted that this increase was largely accounted for by sales from first-time buyers, which NAR indicated were 34 percent of sales.
NAR also reported that the median existing-home price for all housing types in September was $234,200, an increase of 5.6 percent from September 2015’s median price of $221,700.
Contact ACA’s Allen Irish for more information.