"Home Sales 27 Percent Higher in 4th Quarter 2009 Over Last Year"
The National Association of REALTORS® reports that home resales soared 27.2 percent in the fourth quarter of 2009 from a year earlier to a seasonally adjusted annual rate of 6.03 million. The gain was credited to favorable interest rates and the first-time home buyer tax break, with 67 out of 151 metro areas registering increases. "There's a growing body of evidence that the housing market has stabilized," remarks Bernard Baumohl of the Economic Outlook Group. "The question is how quickly can it recover and will we bump along at the bottom for a couple of months?" USA Today (02/12/10) Armour, Stephanie