The number of exising home sales goes up again.

[Nick Gromicko]

Existing home sales rose again in November 2010 (since bottoming in July) according to the National Association of REALTORS®. Existing home sales are completed transactions that include single-family, townehomes, condominiums and co-ops. They rose 5.6% to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October.

Investors accounted for 19% of transactions in November, up from 12% in November 2009 (good for inspectors because the property often gets sold twice).

All-cash sales (buyers who can afford inspections and more often order ancillary inspections) were at 31% in November, up from 29% in October and up 19% from a year ago.

The median existing single-family home price was $171,300 in November, which is 1.2% above a year ago.

• Existing-home sales in the Northeast increased 2.7% in November to an annual pace of 770,000/year.
• Existing-home sales in the Midwest increased 6.4% in November to an annual pace of 1 million/year.
• Existing-home sales in the South increased 2.9% in November to an annual pace of 1.76 million/year.
• Existing-home sales in the West increased 11.7% in November to an annual pace of 1.15 million/year.

The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since the National Association of REALTORS began measuring in 1970.

[zswieca]

November 2010 Statistics For San Antonio TX

1,216 – Number of sales in
November 2010, a 22%
decrease compared to this time
a year ago.
$193,041 – Average price for
single-family homes in
November 2010, a 14%
increase from a year ago.
$152,800 – Median price for
single-family homes in
November 2010, an 8%
increase from a year ago.
1,048 – The number of pending
home sales in November 2010,
a 1% increase from one year
ago.

[Gary Farnsworth]

Sales here in KC are down 35% from a year ago. 2,700 in Oct. 2009 down to 1,700 in Oct. 2010.

http://www.reeceandnichols.com/pages...rket-trends-kc

I just do not know where Nick's figures are coming from.

[mnahrgang]

Originally Posted by gfarnsworth

Sales here in KC are down 35% from a year ago. 2,700 in Oct. 2009 down to 1,700 in Oct. 2010.

http://www.reeceandnichols.com/pages...rket-trends-kc

I just do not know where Nick's figures are coming from.

Gary, he says in his first sentence...

Originally Posted by gromicko

Existing home sales rose again in November 2010 (since bottoming in July) according to the National Association of REALTORS®. ...

I understand that they likely have the best records available, but as long as I've been associated with real estate, I've yet to see a negative report come out of NAR. Their policy (and the policy that they recommend to their members) is to always talk the market up.

[Greg Keene, CPI]

Well, I know something is happening - Nov and Dec have been the busiest months so far - next week is fully booked. I LIKE it.