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US Existing-Home Sales Rebound in December, 2014 Total Sales Finish 3 Percent Below 2013
Despite low inventory conditions, existing-home sales bounced back in December and climbed above an annual pace of 5 million sales for the sixth time in seven months, according to the National Association of Realtors. Median home prices for 2014 rose to their highest level since 2007, but total sales fell 3.1 percent from 2013. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.4 percent to a seasonally adjusted annual rate of 5.04 million in December from a downwardly-revised 4.92 million in November. From a year ago, December ... (full story)