Existing home sales in the United States rose 5.2 percent in December 2002 to an annual rate of 5.86 million units from 5.57 million in November, beating expectations for a steady rate of 5.57 million.
Home sales for all of 2002 hit a record 5.56 million units.
This was announced by the NAR (National Association of Realtors), underlining the excellent performance of the US real estate sector.
According to insiders, the positive trend of the real estate market will continue this year too. The National Association of Realtors in recent days has predicted that 5.34 million existing homes will be bought this year, an amount higher than the 5.3 million units sold in 2002 and an important factor in supporting economic stability.
source: Real Estate Observatory
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