After reporting a notable decrease in existing home sales for the month of December, the National Association of Realtors released a report on Thursday showing that existing home sales saw a modest rebound in January.
NAR said existing home sales rose 0.4 percent to a seasonally adjusted annual rate of 4.92 million in January after falling 1.2 percent to a downwardly revised 4.90 million in December.
The rebound came as a surprise to economists, who had expected existing home sales to dip to an annual rate of 4.90 million from the 4.94 million originally reported for the previous month.
by RTT Staff Writer
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