Stacie Hartman

The Mortgage Blog of Stacie Hartman

Existing Home Sales Rise 5.6 percent In November

Existing home sales, which include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent in November to a rate of 4.68 million from 4.43 million in October. According to data from The National Association of Realtors, sales are 27.9 percent below November 2009, which was the initial deadline for the first-time homebuyer tax credit. Lawrence Yun, NAR’s chief economist, said the gains in home sales are encouraging and he expects the market to reach healthy, sustainable levels in 2011. The national median existing-home price was up 0.4 percent from November 2009. More here and here.

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