November home sales rose 8.1 percent year-over-year as markets began to stabilize, according to a recent housing report from ""RE/MAX"":http://www.remax.com/.
[IMAGE]The real estate company said that November marked the fifth straight month for year-over-year sales increases, topping off 1.4 percent above figures seen in October, as home sales fell for the seventeenth consecutive month.
Closed Transactions fell 5.7 percent lower in November than for October figures.
[COLUMN_BREAK]""This market is trying hard to stabilize itself with home sales significantly stronger than one year ago, even though we are entering the holiday season when sales traditionally decline,"" RE/MAX CEO ""Margaret Kelly"":http://www.remax.com/national-corp/biographies/margaret_kelly.aspx said in a statement.
""With sales trending higher and inventory falling, we would expect the result to be rebounding prices when we enter the stronger selling season next spring and summer,"" she added.
Of 53 metro areas surveyed by RE/MAX, 41 saw bumps for their sales figures over November 2010, including New Orleans at 31 percent, Nashville at 30.1 percent, Wilmington at 28 percent, Omaha at 25.9 percent, and Seattle at 23.4 percent.
Median sales prices for homes taken off the market in November meanwhile averaged $181,322, 1.4 percent more than prices seen in October.
The average days for a home on the market from November amounted to 97, two days more than 95 seen in October and four more than figures seen in November last year.
July and September each offered up 88 days for the time it took for homes to leave the market, according to the company's survey.