Home sales increased at the end of 2011

Remax recently reported that home sales for December increased a shocking 5.7 percent from sales in November, and 1.1 percent from December 2010. The sharp increase in home sales for the month is in sharp contrast to seasonal trends of weak sales during the winter months.

Due to a lower volume of foreclosed properties on the market, the number of homes for sale decreased for the 18th straight month with 25.7 percent less properties than the same month in 2010.

"This December jump may be due to increased investor involvement and transactions that were scheduled to occur before the end of the year, but with prices at or very near the bottom and historically low interest rates, consumers are finding real value in the market," said Margaret Kelly, CEO of Remax.

California home sales increased in December, marking an 11-month sales high. the California Association of Realtors reported home sales rose in December for the third consecutive month, marking the highest number of sales since January 2011.

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