U.S. home resales pick up in January

Sales of existing U.S. homes rose by 3.1 percent in January on an annualized basis, according to the (U.S.) National Association of Realtors. Year-over-year, sales declined by 1.7 percent. “While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” said NAR chief economist Lawrence Yun. Prices increased across all four geographical sectors of the U.S.