4Q Existing Home Sales Surged in Most States

Existing home sales were strong in most states during the fourth quarter, and many areas saw prices increase from a year earlier, according to the National Association of Realtors.

“Sales increased from the third quarter in 48 states and the District of Columbia; 32 states saw double-digit gains,” NAR said in a release.

Existing home sales soared 13.9% to a seasonally adjusted annual rate of 6.03 million in the fourth quarter from 5.29 million in the third quarter, 27.2% above the 4.74 million-unit level in the fourth quarter of 2008.

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