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Monday, August 24th 2009

2:31 PM (207 days, 5h, 11min ago)

NATIONAL MARKET-MORE GOOD NEWS

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS. The last time sales rose four months in a row was in June 2004, and the last time sales were higher than a year earlier was Nov 2005. Lawrence Yun, NAR chief economist, said he is encouraged. "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to the higher sales," he said. The monthly home sales gain was the largest on record for total existing sales dating back to 1999. Again , as we said before, real estate is local , but we thought you'd be interested in the latest numbers on a National level.
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