Ending 2014 on a high note, existing-home sales in December rebounded from the previous month according to the National Association of Realtors (NAR). December’s existing-home sales increased by 2.4% compared to November, and were 3.5% greater than the same time last year. The NAR stated that existing-home sales “climbed above an annual pace of 5 million sales for the sixth time in seven months.” The median existing-home price also saw its 34th consecutive year-over-year price gain in December, reaching $209,500.
Regionally, existing-home sales in the West ended strongly. On a month-over-month basis, December sales rose by 9.8%, and were up 2.8% from the previous year. Compared to December 2013, the median home price in the West rose 5.6% to $299,600. Read more at http://bit.ly/1zE4xfw.