December Home Sales Rising, Prices Stabilizing

Denver, CO – January 19, 2011 – (RealEstateRama) — Defying the seasonal trend, December home sales rose by 13.2% from November in a survey of 54 metropolitan areas. Home sales dropped 5.0% from December 2009, but this is the lowest year-over-year drop the survey has seen in five months. While some industry analysts predict a serious decline in home prices in the new year, The RE/MAX National Housing Report, showed home prices dropped by only 2.2% from levels in December 2009. The inventory of homes for sale continued a downward trend, falling 8.8% from November and 2.9% from December 2009.