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Sales nationwide climb in November

Thursday, December 22, 2011  
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Existing-home sales rose again in November and remain above a year ago, according to the National Association of REALTORS®. The latest monthly data shows total existing-home sales increased 4.0 percent to a seasonally adjusted annual rate of 4.42 million in November from 4.25 million in October, and are 12.2 percent above the 3.94 million-unit pace in November 2010.

Lawrence Yun, NAR chief economist, saysmore people are taking advantage of the buyer’s market. "Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing,” he says. "We’ve seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market for buyers with long-term plans.”

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