Existing home sales (completed transactions) jumped across the nation in December in an annual comparison, according to the National Association of Realtors (NAR). The 12.3% rise marked the 5th time in the last 6 months that sales have increased.

December was a good finish to 2010, when sales fluctuate more than normal. The pattern over the past six months is clearly showing a recovery, Lawrence Yun, NAR Chief Economist stated, The December pace is near the volume were expecting for 2011, so the market is getting much closer to an adequate, sustainable level. The recovery will likely continue as job growth gains momentum and rising rents encourage more renters into ownership while exceptional affordability conditions remain.

Across the nation, existing homes sales rose in every region! In the Northeast the home sales rose 13%, in the Midwest the rise was 11%, in the South 10.1% and in the West 16.7%.

The national median sales price for existing homes was $168,800, which means that half of the homes sold for under $168,800 and half sold for over.