Sales of existing units rise in December, though prices erode.
Fools or vultures, somebody's rushing in where angels fear to tread: American home sales unexpectedly rose in December from November, reflecting a sudden interest in distressed properties at bargain prices.
The National Association of Realtors reported Monday that the pace of existing home sales in the United States rose 6.3% in December, or 4.7 million, from November's annual rate of 4.5 million. Analysts had expected a decline to 4.4 million units.
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Tuesday, January 27, 2009
U.S. Homes Unexpectedly Move
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