Monday, January 26, 2009

Existing Home Sales - Up Significantly!!

In perhaps the best housing report of the great housing slump, existing home sales jumped 6.5 percent in December to a 4.740 million unit annual rate -- a gain that indicates lower mortgage rates are now boosting home sales. The jump cut nicely into supply on the market, now at 3.676 million homes and down nearly 12 percent from November and making for 9.3 months of supply at the current sales rate, down steeply from November's 11.2 months. Read the whole story on Bloomberg ... Here. Good news! Of note, the inventory in Eastham has dipped to under a year's worth of sales.

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