What can be concluded from existing home sales in August?

(21)Existing home sales climbed for the second month in a row in September, fueling some hope that a housing recovery is underway. Sales of previously owned homes rose 10% to a seasonally adjusted annual rate of 4.53 million units last month, the National Association of Realtors reported Monday. That was up from a 4.12 million rate in August.
    The report came in much stronger than expectations.(22)Economists had forecast sales to edge up to an annual rate of 4.25 million units, according to consensus estimates from Briefing, com. The gains of the past two months were welcome news, after home sales sank 27% to their lowest level in 15 years in July. While some economists say a housing recovery is underway, a foreclosure moratorium in October may have a negative impact on next month’s report.