Existing Home Sales Increasing

According to the National Association of Realtors (NAR), the annual pace of 5.04 million existing homes sold in Nov. 2012 exceeded experts prediction of 4.9 million, and rose above the 4.76 million sold in Oct. and the 4.39 million in Nov. 2011. CNNMoney says it was the highest level since sales surged to 5.44 million in Nov. 2009 when home buying tax credits were available. Regionally, Nov. 2012 home sales in the South increased 7.9 percent over Oct., 7.2 percent higher in the Midwest, and a gain of 6.9 percent in the Northeast despite being ravaged by Hurricane Sandy. The West registered a slight gain of 0.8 percent sales of existing homes Nov. over Oct., as MHProNews has learned.

(Photo credit: Matt Heafey)

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