Housing Market

US home sales ticked up in September as Houston recovers

U.S. home sales rose slightly last month as the Houston housing market quickly recovered from Hurricane Harvey. Still, a shortage of available homes is thwarting many would-be buyers and limiting sales.

The National Association of Realtors said Friday existing home sales increased 0.7 percent to a seasonally adjusted annual rate of 5.39 million. That's the first increase after three months of declines.

Yet sales have fallen 1.5 percent from a year ago, the first year-over-year decline since July 2016. That's because so few homes are for sale, particularly at lower prices. Buyers have bid up housing costs: The median home price rose to $245,100, up 4.2 percent from a year...

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