Home Sales Rise

Total existing-home sales--including all completed transactions of single-family homes, townhomes, condominiums, and co-ops--increased 1.0 percent month-over-month to a seasonally adjusted annualized rate of 4.87 million last month, according to the National Association of Realtors (NAR). November's sales rate was revised down to 4.82 million. Even with prices and mortgage rates slated to rise, NAR president Steve Brown says sales should hold strong in 2014 as job numbers improve. That doesn't mean the year won't be without challenges, though