Minneapolis, Minnesota (PRWEB) December 30, 2012 </p><p> The National Association of Realtors (NAR), "The Voice for Real Estate," represents real estate professionals covering all aspects of the residential real estate industry, and releases the Pending Home Sales Index (PHSI). Their December 19th news release titled November Existing-Home Sales and Prices Maintain Uptrend offers behind the market influencers in the rise in home sales.</p>
<p>Home Destination sums up the report findings and reasons behind the increase in home sales:</p>
<p>1) Fundamental demand from increase in home buyer confidence
<br />2) Rising rents
<br />3) Low inventory supply pressuring home buyers to make decisions
<br />4) Home buyers trying to avoid losing homeowners tax credits expiring in the fiscal cliff
<br />5) Increase in jobs
<br />6) Favorable home affordability conditions from continued low interest rates
<br />7) Household formation bursting out </p>
<p>According to the report, the PHSI peaked at 106.4 in November, a 1.7 percent increase over the October number which was revised down slightly to 104.6 from the 104.8 original reports indicated. The November home sales index was nearly a full 10 percent up, at 9.8 percent above the index of 96.9 in November 2011, after showing a sustained upward trend overall in 2012. After tabulating November's statistics, NAR reports that the housing market has achieved a 19 consecutive monthly year-over-year price gain, which last occurred from September 2005 to May 2006.</p>
<p>Comparing Home Sales Year To Year - November 2012 to November 2011:</p>
<p>HUD and The U.S. Census Bureau released the "New Residential Construction Report" on December 19, 2012 and NAR's report contained the following highlights that effect home prices:
<br /></p>
Privately-owned HOUSING STARTS - were at a seasonally adjusted annual rate of 861,000. This is 21.6 percent (
Orignal From: Home Sales 19 Consecutive Monthly Gain Faces 2013 Wild Cards
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