With new home sales data in for December, there were 239,000 more home sales (non-seasonally adjusted) for the full year than we saw in 2013, which makes 2015 the best year for home sales since 2007.
Existing-home sales increased 14.7 percent from the previous month to a seasonally adjusted annual rate of 5.46 million in December. New home sales rose 10.8 percent last month to a seasonally adjusted annual rate of 544,000 units.
For 2015, existing home sales were up 3 percent, and new home sales were up 16 percent compared to 2013 through December on a non-seasonally adjusted basis. During that time, Freddie Mac's home purchase volume increased by nearly 35 percent.
With mortgage rates looking very favorable right now, we expect home sales to carry this momentum forward in 2016.
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