| Winter
2005
Existing Home Sales Hit Record in November
The low interest
rates helped the market for existing single-family home
sales to set the highest monthly pace on record in November
according to the National Association of Realtors. The
sales for November were 6.94 million homes. It was 6.13
million homes last November and the previous record
was June 2004 at 6.92 million homes in the peak season.
The low interest
rates coupled with growing labor market and rising economy
created optimal conditions for booming home sales. NAR's
chief economist expects 2005 sales of homes to be comparable
to this year! The small inventory of homes available
for sale is creating high appreciation in sales prices.
Homes
coninue to be a wise and enjoyable investment, especially
in Southern California.
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