{"id":277608,"date":"2011-02-23T15:21:28","date_gmt":"2011-02-23T15:21:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/23\/home-sales-inching-up\/"},"modified":"2011-02-23T15:21:28","modified_gmt":"2011-02-23T15:21:28","slug":"home-sales-inching-up","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/23\/home-sales-inching-up\/","title":{"rendered":"Home sales inching up"},"content":{"rendered":"<p><div readability=\"55.229120473\"><span id=\"fb-recommend\"\/><br \/>\n<span>By Les Christie, staff writer<\/span><span>February 23, 2011: 10:17 AM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK (CNNMoney) &#8212; Sales of existing homes recorded modest gains in January, the third straight month of month-over-month increases.<\/p>\n<p>According to the National Association of Realtors, homes sold at an annual rate of 5.36 million in January, up 2.7% from December and 5.3% higher than January 2010 sales.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>It was the first time in seven months that the monthly total was higher than the year before. <\/p>\n<p>&#8220;The up trend in home sales is consistent with improvements in the economy and jobs,&#8221; said Lawrence Yun, NAR&#8217;s chief economist. <\/p>\n<p>The report was slightly stronger than expected. A consensus of experts surveyed by Briefing.com had expected sales to hit 5.23 million.<\/p>\n<p>Yun pointed out that home sales have benefited from unusually favorable conditions: Mortgage rates are still very low; there&#8217;s a large supply of homes to choose from; and home prices have fallen to near post-housing bust lows.<\/p>\n<p>One factor holding buyers back is the still tight mortgage lending. <\/p>\n<p>&#8220;Buyers have been constrained by unnecessarily tight credit,&#8221; said Yun. &#8220;As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.&#8221;\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/02\/23\/real_estate\/january_home_sales\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><br \/>\n<br \/><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" \/><\/p>\n<p>Read more:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/vQoTFASq7uc\/index.htm\" title=\"Home sales inching up\" rel=\"noopener noreferrer\">Home sales inching up<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By Les Christie, staff writer February 23, 2011: 10:17 AM ET NEW YORK (CNNMoney) &#8212; Sales of existing homes recorded modest gains in January, the third straight month of month-over-month increases. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-277608","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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