US existing home sales, and prices, rise again in January

Sales of previously occupied U.S. homes rose again last month, a sign that the housing market’s strong momentum from 2020 may be carrying over into this year. The National Association of Realtors said Friday that existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units. Sales were up 23.7% from a year earlier and the strongest sales pace since October. Home prices also rose last month. The report showed that the U.S. median home price was $303,900 in January, an increase of 14.1% from a year earlier. At the end of January, there were only 1.04 million homes for sale, a decline of 26% and an all-time low.