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Home sales on the rebound
Wednesday, December 23, 2009 at 11:47 a.m.
After a dismal start to 2009, the St. Joseph-area housing market is showing signs of life.
Home sales in the nine-county St. Joseph area, which includes Buchanan County and much of Northwest Missouri, increased 37 percent in November compared to the same period last year. Home sales are now up for the first 11 months of the year after posting an increase in each of the past three months.
For the year, home sales are up 0.3 percent and would post the first 12-month gain since 2006 if December sales meet or beat the $10.3 million in sales recorded in December of 2008.
The St. Joseph Regional Association of Realtors said residential real estate sales were $10.1 million last month compared to $7.3 million in November of 2008. The number of units sold, at 1,038 through November, is 2.7 percent behind last year's pace.
Home sales were $131 million for all of 2008. It was the second straight decline in annual sales following a record-setting year of $179 million in 2006.
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