Existing home sales rebounded unexpectedly in December, the National Association of Realtors said today in Washington.
Following a lower-than-expected November, home sales rose 6.5 percent in the final month of 2008.
The home sales increase is consistent with an increase in online real estate leads we have seen nationally on Delta Media Group's real estate website and lead management systems.
The jump could be a sign of a gradually-recovering housing market, or simply the result of a vast decrease in median price--the largest decline in price recorded since records were first kept in 1968, to be exact.
On a positive note, even if the sales increase is due to the drop in median home price, the market may continue on that path as median home prices remain low.
Click here to read Bloomberg's report on the home sales rebound
Sean Cutright
Delta Media Group
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