Existing Home Sales Edge Up in January

Washington, DC, Feb. 21, 2013 — Home resales edged up 0.4% in January, according to the National Association of Realtors.

NAR said sales increased to a seasonally adjusted annual rate of 4.92 million in January from 4.9 million in December.

That was ahead of the 4.9 million expected by economists.

Inventories fell 4.9%, or 25% year-over-year, to 1.74 million units, which is the lowest since Dec. 1999.