Existing Home Sales Dip in January

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Sales of existing homes slipped 0.1 percent in January as appealing mortgage rates supported strong demand in the housing market, a real estate trade group reported Friday.


The National Association of Realtors said existing single-family homes and condominiums were sold at a seasonally adjusted annual rate of 6.80 million units in January, down from a revised 6.80 million units in December.


For the first time, the group included condominiums sales in its monthly report of single-family homes. The median price for a home sold in January was $189,000 in January, an increase of 10.5 percent from January 2004.

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