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NAR: Existing-home sales rebound in December nationally, fall slightly for Northeast

Jan 23, 2015
Despite low inventory conditions, existing-home sales bounced back in December and climbed above an annual pace of 5 million sales for the sixth time in seven months, according to the National Association of REALTORS (NAR). Median home prices for 2014 rose to their highest level since 2007, but total sales fell 3.1 percent from 2013.

Total existing-home sales, which include single-family townhomes, condominiums and co-ops, rose 2.4 percent to a seasonally adjusted annual rate of 5.04 million in December. December closings were up 3.5 percent and are now above year-over-year levels for the third straight month.

In the Northeast, December existing-home sales fell 2.9 percent to an annual rate of 660,000, but are 3.1 percent above a year ago. The median price in the Northeast was $246,000, which is 3.2 percent above the same time last year. 

To read the entire NAR press release, click here.
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