ShirLee's Homes4SaleUtah BLOG

ShirLee McGarry's Homes4SaleUtah BLOG, features great articles for consumers, homeowners and Realtors® addressing community, local, state and national real estate news. Articles also include refreshing humor to encourage smiles and support for all real estate warriors in the trenches who do stand out to make a difference in their client's lives in the exciting and challenging world of the Realtor®. Penned by Associate Broker-Realtor®,and Registered Author, ShirLee McGarry® with RealtyPath in Sandy, Utah

Thursday, December 22, 2011

November Existing Home Sales Continue to Climb

Washington, DC, December 21, 2011

Existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. Also released today were periodic benchmark revisions with downward adjustments to sales and inventory data since 2007, led by a decline in for-sale-by-owners.
Although rebenchmarking resulted in lower adjustments to several years of home sales data, the month-to-month characterization of market conditions did not change. There are no changes to home prices or month’s supply.
The latest monthly data shows total existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 4.0 percent to a seasonally adjusted annual rate of 4.42 million in November from 4.25 million in October, and are 12.2 percent above the 3.94 million-unit pace in November 2010.
Lawrence Yun, NAR chief economist, said More...