Even as the market heads into its slow season, sales numbers continued to stand well above their year-ago level in November, National Housing Report. But the expectations for higher home prices are still widespread. Nearly three-quarters of investors polled by J.P. Morgan expect home prices to rise 5% in 2013
The report shows home sales were up 15.7 percent year-over-year in November, the second highest annual increase this year (behind October’s 17.8 percent yearly rise). November is the 17th consecutive month in which sales have posted year-over-year increases.
Prices also rose both on a month-to-month and year-over-year basis. The median price for homes sold in November was $163,750, 3.6 percent higher than October and 6.9 percent higher than November 2011. November is the 10th straight month to experience year-over-year price gains. Read more ....
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