Carpe Diem

More year-end real estate sales reports point to recovery

1. Memphis home sales increased 34% in December, while the average price fell 1.3%, resulting in a 32% increase in housing sales volume in 2012 compared to the previous year.

2. Des Moines home sales increased 3.5% in December, while the average price increased 12.5%.  The average sale price last year of $167,513 was the highest annual average in four years, since the $168,164 figure in 2008.

3. Monthly volume for home sales in the broader Northern Virginia suburbs remained above $1 billion in December, as monthly sales increased 5.4% and the average price jumped 13% compared to December 2011.

4. Portland-area home sales increased by 19% in 2012 compared to the previous year, and the median sale price increased by 6.3%.  Total sales volume last year increased by $1.3 billion compared to 2011.

5. Sales of Albuquerque-area homes in December 2012 increased more than 16% over December 2011, while the median sale price increased almost 6%.

6. Wilmington-area home sales rose more than 25 percent last month compared with December 2011, while the median sales price increased 6%, the total sales volume increased by 37%, and the days on the market fell by 11.3%.

MP: More reports of double-digit gains in homes sales, average/median prices, and  housing sales volume for both the month of December and for the full year in 2012.  The general theme seems to be that more houses are selling faster at higher prices, which is exactly what a housing recovery looks like.

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