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The National Association of Realtors reports that existing-home sales rose again in January, the third improvement in the past four months. Sales of previously owned homes, including single-family, townhomes, condominiums, and co-ops, increased 4.3 percent to an seasonally adjusted annual rate of 4.57 million. Lawrence Yun, NAR’s chief economist, said the trend upward is in line with the underlying fundamentals including pent-up household formation, record-low mortgage rate, low prices, sustained job creation, and rising rent. The national median existing-home price was $154,700. More here.
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