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This is no surprise - existing home sales will be through the roof nationwide in November as buyers rushed to beat the initial deadline for the homebuyer tax credit. Also ignore the median price - it is skewed by the mix of properties sold. A few key points: A large portion of market activity is from first time homebuyers using FHA loans and investors. This is not a healthy market. The percentage of foreclosure resales has decline to 39.1 percent - still very high historically. The number of NODs (Notice of Default) has "flattened out or trended lower in many areas". This could be a positive, although I think the foreclosure activity is moving up the price chain - and these NODs are for more expensive properties. From DataQuick: Southland home sales and prices up A total of 19,181

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