Existing Home Sales Dip After Hitting 4-Year High | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Existing Home Sales Dip After Hitting 4-Year High

There were 1.9 percent fewer existing homes sold in September than in August, the National Association of Realtors said Monday.

But the slip came after two months when sales were touching four-year highs and as mortgage rates were edging up. So there's a case to be made that a bit of a drop shouldn't be too much of a surprise. Also, sales in September were still 10.7 percent above the pace of the same month a year earlier — a sign that the housing sector's recovery hasn't been stopped in its tracks.

What's more, The Associated Press writes that "many economists expect home sales will remain healthy, especially now that [mortgage] rates have stabilized and remain near historically low levels."

We'll learn much more about how the economy fared in September when the Bureau of Labor Statistics releases its delayed monthly jobs report at 8:30 a.m. ET on Tuesday. As NPR's Marilyn Geewax has reported for us, the report's released was postponed by the partial government shutdown.

According to Reuters, economists expect to hear that there were 180,000 jobs added to payrolls in September and that the jobless rate was 7.3 percent. If they're right, that would mean the unemployment rate was unchanged from the month before and that job growth picked up just a bit from the initial August figure of 169,000.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

For Paul Cezanne, An Apple A Day Kept Obscurity Away

In the 1800s, still-life painting was the bottom feeder of the art world, but that's where the French painter chose to leave his mark. "I want to astonish Paris with an apple," he's said to have said.
NPR

From McDonald's To Organic Valley, You're Probably Eating Wood Pulp

Many processed foods contain cellulose, which is plant fiber that is commonly extracted from wood. It's used to add texture, prevent caking and boost fiber. And it's been around for ages.
WAMU 88.5

Virginia Democrats And Republicans Fight Over Investigating Senator's Resignation

Democrats and Republicans in Virginia are at odds over the value of investigating the state Senator Phil Puckett, who resigned last month to take a job at a state tobacco commission — and turned the Senate over to Republicans.
NPR

Hackers In China Reportedly Targeted U.S. Federal Workers

According to a report in The New York Times, hackers accessed U.S. government databases in March and apparently targeted files on employees who have applied for top-secret security clearances.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.