Rising Sales in Most States !

Rising Sales in Most States, and Rising Prices in Many Metros (at Last!)
by NAR Research Staff

There was good news for most states in the 4th quarter of 2009. Existing-home sales rose from the 3rd to 4th quarter in 48 states and the District of Columbia. In fact, 32 states experienced double-digit quarterly gains. On a year-over-year basis, resales were higher in 49 states and the District, with all but three posting double-digit annual increases.

According to the latest quarterly statistics released by NAR Research, total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rate of 6.03 million in the fourth quarter - up from 5.29 million in the third quarter. Existing-home sales rose 27.2 percent from their 4th quarter 2008 pace of 4.74 million units. As a further sign of housing market stability, distressed properties accounted for 32 percent of fourth quarter transactions; that is down from

37 percent a year earlier.