The 10% rise in existing home sales in September marked the biggest rise ever.
Unfortunately it was still the fourth worst month ever, and still down from last year.
Here’s another problem: According to Realtors, over a third of the 4.53 million sales were distressed sales of some sort.
And of course, as you know… October won’t have been a good month for distressed home sales. That number may not drop to zero, but the foreclosure-related sales space was basically stuck for a big chunk of the month in several states.
Get ready for a big decline.