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Sales of Previously Owned Homes Up Again

On December 12th I reported here that we were experiencing an exceptionally busy December. The usual lull between Thanksgiving in November and the second week of January has not occurred.

Today the news media reported record November re-sales:

Washington (Reuters) – “Sales of previously owned U.S. homes jumped last month to their highest level in nearly three years, the latest sign that the economic recovery was gaining steam, after growing below expectations in the third quarter.

The National Association of Realtors said on Tuesday existing home sales increased 7.4 percent to an annual rate of 6.54 million units, the fastest pace since February 2007, from 6.09 million units in October. The rise was above market expectations for 6.25 million units.”

I suspect we will see strong numbers reported again in for December as buyers continue to take advantage of some great real estate opportunities.

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