December Homes Sales Up 15% Over 2008

Washington, DC, Jan. 25, 2010--December U.S. home resales were up 15% compared to 2008 but fell 16.7% from November to a seasonally adjusted annual rate of 5.45 million.

In addition, the median sales price was higher than the previous year.

The 16.7% percentage decline from November to December was the largest on record, the National Association of Realtors reported.

The decline was larger than the 11% drop to 5.80 million that was expected by economists.

The median sales price rose to $178,300 in December, up 1.5% compared with a year earlier. It's the first year-over-year increase in prices since August 2007.