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National Home Sales Up 7.4 Percent in November

  • December 22nd 2009

by Mark Wellborn

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National Home Sales Up 7.4 Percent in November: Figure 1

The National Association of Realtors (NAR) today announced that national home sales activity hit an annually-adjusted 6.54 million units in November, the highest level since February 2007 when activity hovered around 6.55 million units.

NAR spokesperson Lawrence Yun said in a statement that the tax credit was a driving force:

“This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead.”

While Yun also noted that this sales pace will drop off when sales are analyzed in December and the beginning of January, he said that a surge will likely return early next year as buyers try to buy before the tax credit expires at the end of April.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/national_home_sales_up_7.4_percent_in_november/1626.

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