WALL STREET JOURNAL
REPORTS SALES OF
EXISTING HOMES
PERK UP
According to the WSJ, while the real estate market is not yet close to recovery, low interest rates which are slowly inching up and bargain prices fuel 12.3% gain for existing homes in December 2010. Buyers are locking in interest rates and closing on existing homes. Sales of distressed homes such as foreclosures and short sales rose to a 36% market share which spurred more discounting, with prices falling 1% in December.
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