Existing Home Sales at 1-1/2 Year High, Supply Falls

Existing Home Sales at 1-1/2 Year High, Supply Falls

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sold signU.S. home resales surged in January to a 1-1/2 year high and the supply of properties on the market was the lowest in almost seven years, pointing to a nascent housing recovery.

The National Association of Realtors said on Wednesday existing home sales increased 4.3 percent last month, the highest since May 2010.

(READ the Reuters story in the Sun)

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