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Home Sales 19 Consecutive Monthly Gain Faces 2013 Wild Cards
Date:12/30/2012

Minneapolis, Minnesota (PRWEB) December 30, 2012

The National Association of Realtors (NAR), "The Voice for Real Estate," represents real estate professionals covering all aspects of the residential real estate industry, and releases the Pending Home Sales Index (PHSI). Their December 19th news release titled November Existing-Home Sales and Prices Maintain Uptrend offers behind the market influencers in the rise in home sales.

Home Destination sums up the report findings and reasons behind the increase in home sales:

1) Fundamental demand from increase in home buyer confidence
2) Rising rents
3) Low inventory supply pressuring home buyers to make decisions
4) Home buyers trying to avoid losing homeowners tax credits expiring in the fiscal cliff
5) Increase in jobs
6) Favorable home affordability conditions from continued low interest rates
7) Household formation bursting out

According to the report, the PHSI peaked at 106.4 in November, a 1.7 percent increase over the October number which was revised down slightly to 104.6 from the 104.8 original reports indicated. The November home sales index was nearly a full 10 percent up, at 9.8 percent above the index of 96.9 in November 2011, after
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