Sales of existing homes up strongly
From Times wire reports
Existing home sales rose 6.9%, much more strongly than expected, in December to a seasonally adjusted annual rate of 6.47 million units from a revised 6.05 million in November, the National Assn. of Realtors said Monday. December was 8.9% higher than December 2002.
The trade group said sales of existing homes in 2003 totaled 6.1 million, shattering the previous record of 5.56 million in 2002. Prices rose 7.5% last year from 2002, the biggest increase since 1980, when prices gained 11.7%.
