The National Association of Realtors today announced that existing home sales across the country rose 4.3 percent between December 2011 and January 2012. Today’s news marks the third month in the past four months in which existing sales increased.
Unlike the pending sales index, which measures homes that have gone under contract but not yet closed, existing home sales consist of completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.
By region, sales rose 1 percent in the Midwest, 3.4 percent in the Northeast, 8.8 percent in the West and 3.5 percent in the South, where DC is located. Compared to January 2011, existing sales were up 0.7 percent nationally.
Unlike pending sales numbers, where contracts could fall through before the settlement date, today’s statistics can be seen as good news for the housing market considering that they track home sales that have closed.
This article originally published at http://dc.urbanturf.com/articles/blog/existing_home_sales_rise_for_third_time/5178
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