A September Home Sales Report could should impressive number. The September Home Sales Report could show September was the highest home sales month in two years when the report is released today.

At 10 AM eST / 7 AM PST we will learning if the report matches market estimates. The market anticipates the report will say home resales are up 5% since August 2009. That number from Thomson Reuters if correct would be the best home sales monthly number in over two years.

The cause of the spike? Insiders believe it’s being driven by foreclosure sales in cities like Los Angeles and Las Vegas, plus a tax credit of 10% of the sales price, up to $8,000, if they (1) are a new home buyer and (2) they close before Nov 30.

Yet while sales may be up, pricing of homes is expected to fall even greater by 2010 as unemployment at 9.8% could still grow to 10.5% next year says AP Friday.

Stay here for the housing numbers at 7 AM PST.