The older building boosted by a tax credit

Sales of existing homes in the United States in October reached their fastest pace for over two and a half years, buyers were eager to receive a tax credit when threatened, show figures released Monday.

Sales jumped 10.1% to $ 6.10 million on an annualized basis, the highest figure recorded since February 2007, against 5.54 million (revised) in September, announced the National Association of Realtors (NAR) , the main federation of estate agents in the country.

All 29 economists and analysts polled by Reuters on average had forecast a figure of 5.70 million resales in annualized after the 5.57 million originally announced for September. Compared to October 2008, sales are up 23.5%.

Wall Street extended its advance after the publication of these figures, while the bond market was evolving without much change.

The Dow Jones. DJI gained 1.4% to 16.45 GMT.

"Many buyers rushed to arrive before the deadline for the tax credit for first-time buyers, which would expire at the end of this month, and sales would remain strong in November for the same reasons," commented Lawrence Yun, chief economist for the NAR.

This tax credit of $ 8,000, which was originally scheduled to expire November 30, was extended a few weeks until the next year and was completed by a credit of $ 6,500 for homeowners who purchase a new home.

The first-time buyers accounted for one third of sales in October.

HOPE FOR THE CONSUMER

The median sales price of existing homes fell by 7.1% compared to October 2008, the decline was the smallest recorded for over a year to 173,100 dollars.

"Home resales have hit their low point. The property prices are not far away. There were declines in property prices down," said Lawrence Yun.

The U.S. housing market is gradually recovering from three years of crisis. Residential construction has contributed positively to growth in the third quarter for the first time since 2005.