Existing Home Sales Rise in January

Existing home sales rose 0.4% in January, the National Association of Realtors said Thursday.

Sales rose to an annual rate of 4.92 million, the group said. The level was above economists’ forecasts of a 4.9 million rate, Bloomberg News reported.

The prior month’s pace was revised down to 4.9 million from a previously reported 4.94 million.