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2015 had most home sales in 9 years

Posted: 10:16 AM, Jan 22, 2016
Updated: 2016-01-22 10:16:54-05
2015 had most home sales in 9 years
2015 had most home sales in 9 years

U.S. home sales rebounded in December after new federal regulations had delayed the completion of purchases in November. And total sales in 2015 were the most in nine years.

The National Association of Realtors says sales of existing homes climbed 14.7 percent last month to a seasonally adjusted annual rate of 5.46 million. Sales had previously plummeted as the industry adapted to new mortgage disclosure rules introduced in October.

Helped by steady job growth and low mortgage rates, Americans bought 5.26 million homes in all of 2015, a 6.5 percent increase from a year ago. But tight supplies mean that home values are increasing at more than double the pace of wages.

The median home sales price was $224,100 in December, a 7.6 percent annual increase from a year ago.