According to NAR (National Association of Realtors), sales of existing homes increased in October, while home prices continued to rise due to lower levels of inventory supply.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9 percent above the 4.32 million-unit level in October 2011.
For the entire article: NAR October Report
This report indicates what is happening the national real estate market, not necessarily what is happening in the Harbor Springs, Petoskey, Emmet County and Northern Michigan real estate market. Historically, Harbor Springs, Petoskey, Emmet County and Northern Michigan real estate market lags behind the national trend a bit. In any event, it is good news.
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