Assist2Sell

The National Association of Realtors' (NAR) report says existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 16.7 percent to a seasonally adjusted annual rate1 of 5.45 million units in December from 6.54 million in November, but remain 15.0 percent above the 4.74 million-unit level in December 2008.  For all of 2009 there were 5,156,000 existing-home sales, which was 4.9 percent higher than the 4,913,000 transactions recorded in 2008; it was the first annual sales gain since 2005.  Economists polled by Thomson Reuters say sales of previously occupied US homes completed in December fell 7.3 percent to a seasonally adjusted annual rate of 6.06 million, down from 6.54 million in November. Last year, first-time buyers were the main driver of the housing market, but their presence is on the decline, according to a survey of real estate agents released last week by research firm Campbell Communications.  NAR practitioner survey shows first-time buyers purchased 43 percent of homes in December, down from 51 percent in November and 47 percent in October. Repeat buyers rose to 42 percent of transactions in December from 37 percent in November; the remaining sales were to investors. "The majority of people who are going to use [the $8000 tax credit] have used it already," said Thomas Popik, who conducted the survey.