S&P/Case-Shiller Index shows that home sales in November increased about 0.2% compared to the rates in October. A year ago, November, 2008 the index was down to 5.3%.
Accord the Association of Realtors, in December homes sales had declined about 16.7%. It is recommended to wait another three months for a more accurate prediction for the housing market.
The amount of home sales in November was so high due to first time buyers taking advantage of the tax credit, low rates and tax credits.
There is no stability in the market. People are not sure whether rates are going to rise or drop, or whether prices are going to increase dramatically in a matter of months or years or decrease even more.
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