clear
Wednesday May 27th, 2015 7:51PM

US existing home sales drop 1.9 pct. in September

By The Associated Press
WASHINGTON (AP) -- Americans bought fewer existing homes in September than the previous month, held back by higher mortgage rates and rising prices.

The National Association of Realtors says sales of re-sold homes fell 1.9 percent last month to a seasonally adjusted annual rate of 5.29 million. That's down from a pace of 5.39 million in August, which was revised lower. The sales pace in August equaled July's pace. Both were the highest in four years and consistent with a healthy market.

Most economists expect housing will continue to recover, especially now that mortgage rates have stabilized in recent months. Final sales in September reflected contracts signed in July and August, when rates were about a percentage point higher than in May.

Home prices have risen about 12 percent in the past year.
© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 1 year ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 1 year ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 1 year ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 1 year ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 1 year ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 1 year ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 1 year ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 1 year ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 1 year ago )
Local/State News
Gainesville police: Alleged assailant in custody
A Lithia Springs man is in custody for reportedly sexually assaulting a Gainesville woman.
4:50PM ( 3 hours ago )
Elachee announces new Resource Manager
A new Natural Resources Manager is on the job at the Elachee Nature Science Center in Hall County.
By Submitted
3:40PM ( 4 hours ago )
Hall C. BOE sets public hearings for budget; board to ask for tax increase
As the Hall County School Board prepares to adopt its upcoming budget, three public hearings have been scheduled, and the Board plans to ask for a property tax increase to restore some funding lost during the economic downturn.
3:01PM ( 4 hours ago )
Baseball: GHS falls to Greenbrier in Game 3
In the end, it was wasn’t worth the wait...
2:45PM ( 5 hours ago )
Authorities charge man with kidnapping, other offenses after chase into Lake Lanier
Forsyth County authorities have charged a man with kidnapping, false imprisonment and a list of other charges after they chased him and caught him in Lake Lanier Monday night.
2:30PM ( 5 hours ago )