In the Northeast, home sales are up for the third consecutive month. Price growth in the Northeast has been tame all year, which has contributed to it's success. Overall, November's sales pace was the highest since February 2007, according to NMP.
In the coming year, Realtor.com anticipates a 10 percent increase in new home sales and a three percent increase in new home starts. Existing home sales are expected to increase 1.9 percent, to 5.46 million homes.
The healthiest job market since the Great Recession has helped to drive sales higher in recent months. According to HR.com, the economy is expected to remain strong in 2017.