Existing home sales climbed for the second month in a row in September, fueling some hope that a housing recovery is underway.
Sales of previously owned homes rose 10% to a seasonally adjusted annual rate of 4.53 million units last month, the National Association of Realtors reported Monday. That was up from a 4.12 million rate in August.
“A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium,” Lawrence Yun, NAR chief economist, said in a release.