Unexpected Jump in Home Sales Mark End of 2011

Ending the year on a positive note, December home sales did not follow the seasonal trend but rose an unexpected 5.7% from sales in November. Sales were also up 1.1% from December 2010, the 6th consecutive month to show a year-over-year sales increase. Largely due to a lower volume of foreclosures, the number of homes for sale fell for the 18th straight month, and is now 25.7% lower than last year. Home prices remained nearly even with November prices, down just 0.35% and were down 3.5% from December 2010. Overall, 2011 was marked by home sales and prices that remained within a range, rising and falling in an equal number of months without showing a strong trend in either direction.

 

Full story is available on MarketWatch

Share

No Comments

Leave a reply