Existing home sales fell 6.4% in September from the previous month, but October could turn out to be a good month, according to RE/MAX, the national realty company.
"We usually see sales in September fall below August levels, but we're encouraged by reports of signed contracts in the field," said RE/MAX chief executive Margaret Kelly.
The Denver-based company also reported that home prices fell 2.7% in September from the prior month. But prices are up 0.9% from a year ago and remain "relatively stable," according to a national housing report issued by the firm.
Home prices in 33 of the 54 metropolitan markets tracked by RE/MAX showed a year-over-year increase.
The National Association of Realtors will release its September home sales report on October 25.
