Existing Home Sales Surge in September

Data released by the National Association of Realtors on October 23rd indicated that sales of existing homes were up 9.4% nationwide, the highest in two years.  The Western region fared even better, leading with a 13% surge.  The rise in sales activity is attributed to buyers rushing to take advantage of the First Time Homebuyer Tax Credit before it expires next month.  You can read more about the sales trend and efforts to extend the tax credit at Bloomberg.