Marketwatch: Existing home sales rise 5% in December


By Steve Goldstein

WASHINGTON (MarketWatch) — The National Association of Realtors on Friday said December sales rose 5% to a seasonally adjusted annual rate of 4.61 million. November sales were revised down to 4.39 million from an initially reported 4.42 million. Economists polled by MarketWatch had expected sales at a 4.7 million clip in December. For all of 2011, sales edged up 1.7% to 4.26 million – compared to the 2005 peak of 7.08 million. Median sales prices in December fell 2.5% from the same period of 2010 to $164,500, and for the year, median prices were $166,100, down 3.9% and back to 2002 levels. Inventories fell 9.2% to 2.38 million, which represents 6.2 months of supply. The months of supply of inventory were the lowest inventory since April 2006, though inventory levels are generally low in the winter.

About these ads
  1. Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: