Dry Inventory Drags Down Existing-Home Sales in December

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MORTGAGE NEWS

Existing-home sales fell 1.0 percent in December to a seasonally adjusted annual rate of 4.94 million, the National Association of Realtors (NAR) reported Tuesday. According to the NAR data, December existing home sales--closed transactions--were up 12.8 percent from one year earlier. With the December sales report, NAR said the preliminary annual total for existing-home sales in 2012 was 4.65 million, up 9.2 percent from 4.26 million in 2011 and the highest volume since 2007. »Read More