US real estate sales climb for first time in 5 months

Property sales in the US rose for the first time in five months during December compared to the previous month, new figures show.

Transaction in the country climbed by 13.2 per cent in the last month of 2010 with two of the worst hit regions in the country, Arizona and Florida, seeing sales rise by 12.8 per cent and 7.4 per cent respectively.

However, despite the news signalling a slight return of confidence in the sector, property sales still remain five per cent down on the level they were at a year previously, the RE/MAX National Housing Report stated.

Chief executive of the firm Margaret Kelly said that the housing market was in a strong position for growth as we enter the new year.

"It's nice to see that sales were much higher than in November, with a year-on-year difference better than we've seen in months," she said.

"It is encouraging that prices appear to be remaining stable. These positive trends should build as we enter the traditionally strong home buying months in the spring and summer."

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