Posted by: Marvin Remmich | January 20, 2011

Existing-Home Sales Soar to 7-Month High

Sales of previously owned homes surged 7 percent in December, the National Association of Realtors reports. Existing-home sales have increased five of the last six months and have now hit a seven-month high. Distressed homes accounted for 36 percent of the sales volume in December, up from 33 percent in November.

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