Existing home sales rose 7% to a seasonally adjusted 6.29 million units in September from a month earlier, according to the National Association of Realtors (NAR). The results outpaced analyst expectations of a 3.6% increase, according to Bloomberg consensus estimates.
“This autumn looks to be the second best autumn home-sales season in 15 years,” Lawrence Yun, chief economist at NAR, said during a press conference releasing the new data.