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There is a lot of upbeat news in the September 2016 existing home sales report released by the National Association of Realtors® (NAR) on Thursday.
Sales rebounded sharply and the improvement was seen in all four regions. More good news, NAR attributed part of that to increased participation from first-time home-buyers, a group that has worried the housing industry by its relative absence.
Total existing home sales during the month, including single-family homes, town homes, condos, and co-ops, rose 3.2 percent to a seasonally adjusted annual rate of 5.47 million. First-time buyers accounted for 34 percent of sales, the highest portion in more than four years.