The year is ending with some good news on the housing front.
AJC staffer Michelle Shaw reports that November provided the first year-over-year increase in the price of existing single-family homes sold since at least 2008, according to the National Association of Realtors.
The 2 percent increase for the region, from $126,300 in November 2008 to $129,300 last month, bucked the national trend, which saw a 4 percent drop in sales price, Shaw writes.
Steve Palm, president of Marietta-based SmartNumbers, said “there’s more good news: Locally, price was flat for all housing types sold in November.” Flat is good when you’re dealing with a down market.
Another area that saw marked improvement was sales, which improved 33 percent over November 2008, according to the Realtors’ data.
“Our housing industry had been down for 13 consecutive quarters, but it is a very good bet that fourth quarter 2009 will have a year-to-year increase for all single-family closings,” Palm told Shaw.
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