December existing home sales rise by 6.5%

By: By ALAN ZIBEL, AP Real Estate Writer
By: By ALAN ZIBEL, AP Real Estate Writer

WASHINGTON (AP) - A real estate group says sales of existing homes rose 6.5% from November to December, closing out the worst year for the U.S. real estate market in more than a decade.

The National Association of Realtors said Monday that sales of existing homes rose to an annual rate of 4.74 million in December, from a downwardly revised pace of 4.45 million in November.

December's sales had been expected to fall to a pace of 4.4 million units, according to Thomson Reuters.

The median sales price plunged to $175,400, down 15.3% from $207,000 a year ago. That was the lowest price since May 2003 and the biggest year-over-year drop on records going back to 1968.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 38324634 - kolotv.com/a?a=38324634
Gray Television, Inc.