.jpg)
Things are looking up in the real estate world, as evidenced by December’s market report. Despite the fact that December is a historically lousy month for the real estate market, existing home sales saw an increase of five percent (month-over-month) in December to a seasonally adjusted annualized rate of 4.61m units.
More good news: Median sales prices of existing homes rose by nearly two percent (seasonally adjusted), reversing a mid-year decline.
These stats were in step with consensus expectations. The report also held a few other notable details, such as the fact that the amount of homes currently on the market decreased by about three percent during December (seasonally adjusted). Combined with the increase in sales, this drove the “months supply” of homes down one percent in November.