Real Estate

Homes sold two weeks faster in September as demand surged

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People walk into a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020. Home buyers eying for cozy backyards and more office space are staging bidding wars in the suburbs surrounding New York City amid the spread of the COVID-19 pandemic.

Wang Ying | Xinhua News Agency | Getty Images

Homebuyers hoping that a seasonal slowdown in the housing market would dampen rising prices can forget about it.

More buyers piled into the fray in September, spurred by record-low mortgage rates and a pandemic-induced stay-at-home culture, pushing sales to an even faster pace.

In the first read on September demand, homes sold 12 days faster than they did a year ago,…



Source cnbc.com

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