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Post by bot on Jan 23, 2015 19:32:02 GMT -5
Existing home sales rise 2.4% to 5.04 million units in December
WASHINGTON (MarketWatch) -- Sales of existing homes rose 2.4% in December to a seasonally adjusted annual rate of 5.04 million, the National Association of Realtors reported Friday. The gain was close to expectations. Economists polled by MarketWatch had expected the sales rate to increase to 5.08 million in December from an originally reported 4.93 million in November. On Friday, NAR revised November's sales pace to 4.92 million. The median sales price of used homes hit $209,500 in December, up 6.0% from the year-earlier period. December's inventory was 1.85 million existing homes for sale, a 4.4-month supply at the current sales pace. The number of homes available for sale was down 0.5% from the year-earlier period. For all of 2014, existing-home sales slipped to 4.93 million units, down 3.1% from 2013. Meanwhile, the median price reached $208,500 in 2014, the highest since 2007 and up 5.8% from the prior year.
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