Rise in home sales reported during end of 2010

More Americans were encouraged to hire moving services and buy a new home during the end 2010, as the National Association of Realtors report there was a bump in existing-home sales in December.

Existing-home sales, which consist of completed transactions of single-family homes, townhouses, condominiums and co-ops, shot up by 12.3 percent from November to a seasonally adjusted annual rate of 5.28 million. Some experts believe the improvement is a sign the U.S. economy will begin to recover from its slump in 2011.

"The December pace is near the volume we're expecting for 2011, so the market is getting much closer to an adequate, sustainable level," said NAR chief economist Lawrence Yun.

According to NAR president Ron Phipps, buyers are responding to historically low interest rates and home prices, as well as high demand for housing.

Improvements in national unemployment claims indicate more Americans may be able to pack their moving boxes and relocate into a new home. The U.S. Department of Labor reports that during the week ending January 15, unemployment claims decreased to 404,000, a 37,000 drop from the week before. 

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