U.S. existing home sales rose by 4.3% (month-over-month) in January to an annual rate of 4.57 million. First time buyers accounted for 33% of the sales compared to 31% in December. From the houses sold, distressed properties accounted for 35% of the sales compared to 32% in December. Inventory fell by 0.4% to 2.31 million, the least since March 2005. The median price for all housing types was $154,700, a year-over-year fall of 2.0%. Existing home sales in December were revised sharply lower to an annual rate of 4.38 million.
