Existing home sales in the U.S. unexpectedly showed a sharp increase in the month of January, according to a report released by the National Association of Realtors on Friday.
NAR said existing home sales spiked 6.7 percent to an annual rate of 6.50 million in January after tumbling 3.8 percent to a revised rate of 6.09 million in December.
The substantial rebound surprised economists, who had expected existing home sales to slump by 1.3 percent to a rate of 6.10 million from the 6.18 million originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.