Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

U.S. existing-home sales rose for the third straight month in December, finishing 2011 with a modest overall increase in sales from the year before, according to a report released today by the National Association of Realtors. Sales of single-family homes, townhomes, condos and co-ops saw a 1.7 percent rise in 2011, to 4.26 million homes, from 4.19 million in 2010, the report said. Last month, NAR released adjusted estimates for home sales between 2007-10. The 4.19 million cited for sales in 2010 is the "rebenchmarked" figure. Previously reported median home prices or months' supply of homes for sale were not affected by NAR's rebenchmarking. In December, existing-home sales rose 3.6 percent year over year and 5 percent month to month, to a seasonally adjusted annual rat...