US Condo Sales Decreased More Than 20% in the West in November 2009
US condo sales decreased more than 20% in the West in November 2009, according to the latest data released by the National Association of Realtors (NAR).
At the national level, the seasonally adjusted annual rate of condo/co-op sales in the United States stayed flat at the October level of 770,000 units. On a yearly basis though, the unadjusted monthly US condo/co-op sales were up by 58% in November 2009.
Note that, US condo sales in October and August of 2009 registered monthly increases of 13.2% and 9.7%, respectively.
Trends in US condo sales varied widely across regions. The West registered the worst performance as seasonally adjusted condo sales posted a monthly decline of -25%, while the monthly unadjusted sales returned back to their November 2008 level.
The Northeast posted the best performance in November 2009, as condo sales increased by 6.9%. In the Midwest and South condo sales remained flat at their October levels.
On a year-over-year basis the seasonally unadjusted US condo sales registered the largest increase of 88% in the South followed by the Midwest with a 67% increase.
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