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Sign into your accountHome Price Stabilization Seen in Most Metro Areas
February 22 2011
Home sales rebounded in 49 states during the fourth quarter. Over half of the available metropolitan areas experienced price gains from a year ago, while most of the rest saw prices weaken, according to the National Association of REALTORS®.
Total state existing-home sales, including single-family and condo, jumped 15.4% to a seasonally adjusted annual rate of 4.80 million in the fourth quarter from 4.16 million in the third quarter. The sales were 19.5% below a surge to an unsustainable cyclical peak of 5.97 million in the fourth quarter of 2009, which was driven by the initial deadline for the first-time buyer tax credit.