first_img alison.lock whatsapp Wednesday 23 February 2011 12:20 pm US home sales rise 2.7 per cent Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrapcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Genius Show Comments ▼ Sales of previously-owned US homes rose unexpectedly in January, but prices tumbled to the lowest in nearly nine years, a US industry group has said.The National Association of Realtors said sales climbed 2.7 per cent month on month to an annual rate of 5.36 million units from a downwardly revised 5.22 million pace.Compared with January last year, sales were up 5.3 per cent. The median home price fell 3.7 per cent from a year-ago to $158,800 (£98,217), the lowest since April 2002.Barclays Capital economist Michael Gapen in New York said it had expected unit sales to rise to a 5.25 million-unit rate in January and the analyst consensus was for a 5.22 million-unit rate.“The recent activity provides further evidence that the housing market has stabilised,” he said. “We expect the recent improvement in home sales to persist, albeit at a more moderate pace than observed in the second half of 2010. We see sales as supported by continued improvements in labour market conditions, but constrained by tight credit standards and higher mortgage rates.”The NAR has been accused of over-counting existing home sales. The Wall Street Journal on Monday quoted California real estate analysis firm, CoreLogic, as saying the NAR could have overstated home sales by as much as 20 per cent. NAR dismissed the claim and chief economist Lawrence Yun told reporters: “I would be highly surprised if it was 20 per cent.” The NAR also revised the sales rates for the past three years, which showed 2010 sales little changed. Tags: NULLlast_img

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