Existing-home sales continued on an upward trend in December, rising for three consecutive months and remaining above where they were one year ago according to the National Association of Realtors®.
December existing-home sales rose 5.0 percent. For all of 2011, existing-home sales rose 1.7 percent to 4.26 million from 4.19 million in 2010. Existing-home sales are based on transactions from multiple listing services that include sing-family homes, townhouses, condominiums and coops.
Record low mortgage interest rates, job growth and affordable home prices are bringing more consumers into the market.