SEPTEMBER EXISTING HOME SALES SURGE

Yes, existing homes sales are up 5.5% from September compared to August, but what is more important is September 2008 existing home sales here in Metro Phoenix are up over 100% compared to September 2007 sales. WHY IS THIS NOT BEING REPORTED IN THE NEWS????

September existing home sales up 5.5 percent By MARTIN CRUTSINGER, AP

A real estate trade group says sales of existing homes rose by the largest amount in more than five years in September. The data is a possible glimmer of hope that the housing slump could be starting to bottom out.
The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.
Even with the gain in sales, prices kept falling. The median sales price has dropped to $191,600, down by 9 percent from a year ago.