US: Existing home sales rise by 5.5 percent

US: Existing home sales rise by 5.5 percent anonym
Oct. 24 (Bloomberg) - Purchases of existing homes jumped 5.5 percent last month to a 5.18 million annual pace, the highest level in a year, the National Association of Realtors said today in Washington.

The median sales price has dropped to $191,600, down by 9 percent from a year ago.

Economists said sales figures for this month and next will be critical in determining whether sales have reached a bottom as predicted by the Realtors' group.

``The housing downswing is really not exactly even nearing a bottom at this point,'' David Seiders, chief economist at the National Association of Homebuilders said Oct. 17 in an interview with Bloomberg Television. ``The core problem in the economy is still housing, and house prices are decimating the financial markets.''

Who would,nt buy when prices are rockbottom buyer
I,d go in for decimal buying and optimal selling.
<bare I had some money sweetheart

A 3 and 2 for 167.000 wauw who would have believed that for a year ago.
Good riddance for Bush, come in Obama