Existing Home Sales Highest in Three Years
Washington, DC, Dec. 20, 2012 -- Home resales rose 5.9% in November to an annual rate of 5.04 million, the highest rate since November 2009, according to the National Association of Realtors.
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NAR credited growing momentum in the housing market from an economy that is adding jobs and new household formation.
The rate in October was revised down to 4.76 million from a prior estimate of 4.79 million.
Sales are up 14.5% from a year ago. The median existing-home price rose 10.1% from the prior year to $180,600.