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Existing Home Sales Rise For Third Month in a Row

  • January 20th 2012

by UrbanTurf Staff

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Existing Home Sales Rise For Third Month in a Row: Figure 1

The National Association of Realtors today announced that existing home sales across the country rose 5 percent between November and December 2011. Today’s news marks the third month in a row in which existing sales increased.

Unlike the pending sales index, which measures homes that have gone under contract but not yet closed, existing home sales consist of completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.

By region, sales rose 8.3 percent in the Midwest, 10.7 percent in the Northeast and 2.9 percent in the South, where DC is located, and 2.6 percent in the West region. Compared to December 2010, existing sales were up 3.6 percent nationally.

Unlike pending sales numbers, where contracts could fall through before the settlement date, today’s statistics can be seen as good news for the housing market considering that they track home sales that have closed.

See other articles related to: existing home sales, national association of realtors

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/existing_home_sales_rise_for_third_month_in_a_row/4962.

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