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NAR: Existing-home sales jump in January

Existing-home sales stepped out to a fast start in 2017, surpassing a recent cyclical high and increasing in January to the fastest pace in almost a decade, according to the National Association of REALTORS (NAR). 

Total existing-home sales expanded 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January. January’s sales pace is 3.8 percent higher than a year ago and surpasses November 2016 as the strongest since February 2007. 

January existing-home sales in the Northeast jumped 5.3 percent to an annual rate of 800,000, and are now 6.7 percent above a year ago. 

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