Sales of existing homes rose by 13.9% in the last quarter of 2009 and were 27.2% higher than in the same period of 2008, according to data released by the National Association of Realtors.
During the last three months of 2009, sales were at a seasonally adjusted annual rate of 6.03 million units, compared with 5.29 million in the third quarter and 4.74 million in the last three months of 2008.
During the final quarter of 2009, the median price for an existing home was $172,900, a 4.1% decline from the same period in 2008.
During the last three months of 2009, existing home sales increased from third quarter levels in the Northeast, Midwest, South and West by 11.1%, 14.5%, 13.8% and 16.2%, respectively
Existing home sales rose from their levels in the final three months of 2008 in the Northeast, Midwest, South and West by 33.6%, 29.9%, 28.2%, and 18.2%, respectively.