Home sales unexpectedly rose in December, reversing a purchase slide in November, according to new figures released by RE/MAX on Tuesday.
The Denver-based real estate brokerage reported that December sales rose 5.7% on a non-seasonally adjusted basis after falling 5.7% in November.
“We're pleasantly surprised to see the year end with such strong sales, and hope this trend will continue into the traditional spring selling season,” said Margaret Kelly, CEO of RE/MAX LLC.
She noted sales were driven by an increased number of investor transactions.
Overall, sales of existing homes are up 1.1% from a year ago.
The median price of a home sold in December was $179,587, down 3.5% from the same month in 2010.
The National Association of Realtors releases its report on December sales of existing homes this Friday.
