Real Estate Property Sales Increase
Sales of previously owned homes soared 7.4% in the traditionally slow month of November as buyers looked to take advantage of a tax credit for first-time purchases, an industry group said this morning.
Sales of single-family houses, town homes, condominiums and co-ops rose to a seasonally adjusted annual rate of 6.54 million units in November, the National Assn. of Realtors in Washington said.
That is 44.1% above the 4.54 million sales pace of November 2008.
The 7.4% rise reported today was compared with sales in October 2009.
The median price for all types of existing homes was $172,600 in November, a 4.3% drop from November 2008. Distressed properties accounted for 33% of sales in November, the Realtors group said.
CLICK HERE to read story
This blog post is brought to you by SimplifyEm Pay Rent Online and Property Management Software
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. US Home Sales Rise – Why Buyers Bought in Slow Month is brought to you by SimplifyEm Pay Rent Online and Property Management Software
|
Welcome back! What did you think of our Property Management Software?
Are you subscribed to our feed and receiving email updates? |
You might also want to read:
- July Existing-Home Sales Fall as Expected but Prices Rise August 24, 2010: Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®. Existing-home sales which are......
- McMansion Foreclosure Rate Doubles – Time to Buy a Dream House More and more luxury homeowners are turning to short sales as the default rate for homeowners with more than $1 million mortgage is almost double of the US rate. Due to financial crisis, many of......
- Has home construction bottomed out? What does the latest data tell? Home building rebounded from a six-month low in November, with improvement in new home construction in all sections of the nation, according to a government report issued Wednesday. Construction of new homes rose to an......
- US Home Buyers find slice of luxury within reach About 4% of the population earns more than $200,000 a year and can afford a $1 million dollar home in USA. With rates being so low the mortgage payment would meet the lending ratios of......
- Home Sales to Increase, According to Index For the third month in a row, the number of people who signed contracts to purchase homes increased. This is another sign that the housing market may have begun to recover. The National Association of......
