The biggest jump in November came in The West. Existing home sales there surged 10.4% in November. And sales on the Pacific side were up over 28% over the same month a year ago. When it comes to price, well, it’s still a little down on November of last year, by about 4%, but that’s a considerable catch up from the tumbling prices we’d seen earlier in the year.

Moving on now to the South, existing home sales there rose nearly 5% in November, which is a big jump when you compare it to a year ago. From November to November sales in the South jumped nearly 50%! Prices were down year-to-year but by just over 1%.

In the Northeast, sales in November were up 6.6% over October. Perhaps not the double-digit rise we saw in October but it’s still at a level that is nearly 52.7% higher than a year ago. Prices continue to be lower in this region though, currently down around 13% from a year ago.

And ending up in the Midwest, which saw an 8.4% increase in existing home sales, in November over October. And year-to-year, existing home sales were up 53.5%. That’s the highest year-to-year climb in the country, and prices seem to be evening out here more than anywhere, down just 0.4%, November to November.

Overall, we’re seeing some massive sales gains, particularly in the South, Northeast and Midwest and while prices are lower in many parts of the country compared to last year, we are definitely seeing them head back upwards towards self sustainability, with the South and Midwest almost evened out to last year’s prices already. The best thing about this big surge in sales is that it also represents a big drop in inventory — the lower inventory gets, the more even the scales balance between buyers and sellers, leading to a more even keel on pricing and that all points to a normal real estate market on the horizon.