More people bought previously occupied homes in January, but sales surged on a rising number of foreclosures and all-cash deals.
The National Association of Realtors say sales of previously occupied homes rose slightly last month to a seasonally adjusted annual rate of 5.36 million. That's up 2.7 percent from 5.22 million in December.
The pace is still far below the 6 million homes per year that economists say represents a healthy market.
Foreclosures represented 37 percent of sales in January. And all-cash transactions accounted for 32 percent of home sales - double the rate from two years ago when the trade group began tracking these deals. In places like Las Vegas and Miami, cash deals represented half of all sales.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.