Existing Home Sales Trending Higher. Distressed Sales Pressure Prices Lower

The National Association of Realtors today released Existing Home Sales data for December 2010 Existing Home Sales report on the number of completed real estate sales transactions on single-family homes, townhomes, condominiums and co-ops. The methodology in calculating existing-home sales statistics is really quite simple. Each month the National Association of Realtor® receives data on existing-home sales from local associations/boards and multiple listing services (MLS) nationwide. The monthly EHS economic indicator is based on a representative sample of 160 Boards/MLSs. NAR captures 30-40% of all existing-home sale transactions with its monthly survey. HERE is the methodology for the data collection Excerpts from the Release... Existing-home sales rose sharply in December, when sales...(read more)

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Source: http://www.mortgagenewsdaily.com/01202011_existing_home_sales.asp

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