According to the National Association of Realtors, the existing home market is in its third month of an uptrend in sales. Lawrence Yun, NAR Chief Economist says that “these are the early signs of what may be a sustained recovery.”
“The latest monthly data shows total existing-home sales1 rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010. The estimates are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.”
