Existing home sales during November rose 5.6% over the previous month. That is still 27.9% below November of 2009 but definately turning in the right direction.
Lawrence Yun, NARs chief economist stated that "the relationship recently between morgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970. Therefore, the market is recovering ans we should trend up to a healthy sustainable level in 2011."
I think we are in for a good spring market!