Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of Realtors (NAR).
Completed transactions of single-family houses, townhomes, condominiums and co-ops rose 12.3% to a seasonally adjusted annual rate of 5.28 million in December. Despite the surge, the figure is 2.9% below the 5.44 million-pace in December 2009.