Thursday, February 11th, 2010, 3:13 pm
Existing home sales were up in Q409 and in many areas, that helped give prices a boost, according to the National Association of Realtors (NAR).
Existing-home sales, including single-family and condo, jumped 13.9% to a seasonally adjusted annual rate of 6.03m in the Q409 from 5.29m in the Q309, and are 27.2% above the 4.74m-unit level in the Q408, NAR reported, adding distressed properties accounted for 32% of Q409 transactions, down from 37% a year ago. The improvement comes after sales plummeted in December to close out the year.
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