Gene J. Puskar, Associated Press
WASHINGTON — Sales of existing U.S. homes edged up slightly in December, helping to lift sales for the year to the highest level in seven years.
The National Association of Realtors says sales increased to an annual rate of 4.87 million units last month, up 1 percent from the November sales pace. However, both months represented a slower pace of sales than earlier in 2013, reflecting the drag from higher mortgage rates and higher home prices.
For all of 2013, sales totaled 5.09 million, the best performance since 2006, when sales totaled 6.48 million. However, the sales gains in both 2005 and 2006 represented an unsustainable housing bubble. Analysts say a more normal sales pace currently would be around 5.5 million units.
The median price of an existing home rose 11.5 percent last year to $197,100, the highest in eight years.
- Why your co-workers come to work sick
- Local government board fostered 'culture of...
- BLM releases blueprint for oil and gas...
- 5 tips for a successful job interview
- Family whose 3-year-old daughter has cancer...
- Business says thanks by donating 10 bicycles...
- Millions being spent gambling at 2 bingo...
- Why workers aren't taking vacation time, and...
- Local government board fostered... 16
- Salt Lake's 'passive' house a model of... 6
- Provo airport expansion could provide... 5
- BLM releases blueprint for oil and gas... 4
- Millions being spent gambling at 2... 3
- Why your co-workers come to work sick 1
- 5 tips for a successful job interview 1
- Family whose 3-year-old daughter has... 1