Summary Box: Home sales up in Sept.; trouble ahead

AP News
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Posted: Oct 25, 2010 4:52 PM
Summary Box: Home sales up in Sept.; trouble ahead

HOME SALES UP: Sales of previously occupied homes rose 10 percent last month after the worst summer for the housing market in more than a decade.

RISING FROM LOWS: Home sales have risen from July, which had the slowest annual sales pace in 15 years. Sales are still down by nearly 38 percent from their peak in 2005.

FORECLOSURE FEARS: Fears over flawed foreclosure documents could keep buyers on the sidelines in the final months of the year. Some homebuyers are worried that they will face lawsuits from displaced homeowners asserting that banks made errors when seizing their homes.