Newsfeed: U.S. existing home sales surge in January; inventory at record low
U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.
Newsfeed: U.S. existing home sales surge in January; inventory at record low Read More »