On January 20, 2012 National Association of Realtors® (NAR) reported that nationwide existing home sales in December 2011 were 5.0% higher from November 2011, and 3.6% higher than December 2010.
Investors bought 21% of the inventory in December, higher from 19.% in November 2011, and 20% in December of 2010. First time buyers acquired 31% of homes in December, lower from 35% November of 2011, and 33% December of 2010.
Cash buyers purchased 31% of all sales in December of 2011, higher from 28% in November of 2011, and 29% in December of 2010. Investors make up the bulk of cash transactions.
Total available housing inventory fell 9.2% at the end of December to 2.38 million, a 6.2 months supply of inventory, lower than 7.2 months supply in November of 2011.
All distressed homes, foreclosures and short sales were 32% of all sales in December 2011, up from 29% in November 2011; but lower than 36% in December 2010.
Home sales, in the Northeast increased 10.7%, in the Midwest jumped 8.3%, in the South rose 2.9%, and in the West were higher 2.6% in December of 2011, according to Walter Molony of www.realtors.org on January 20, 2012.
It appears that more home buyers taking advantage of historic low interest rates and lower priced distressed properties, encouraged many home buyers to purchase properties in December of 2011.
For more complete information, on the December of 2011 existing home sales, please CLICK HERE
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