Posted on Tuesday, February 23, 2010
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.
Price looked good with a slight month over month increase even thought year over year was not so good. The median existing single-family home price in the Northeast declined 5.6 percent to $234,900 in the fourth quarter from the same quarter in 2008, but with widely varying conditions. In the Midwest, median existing single-family home price in the region rose 1.1 percent from a year ago to $141,100. The median existing single-family home price in the South was $153,000 in the fourth quarter, down 2.4 percent from a year earlier.The median existing single-family home price in the West did decline 8.9 percent from a year ago to $227,200.