Existing-home sales post third gain in 4 months

NAR: large-scale REO-to-rental program not needed

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Increased demand from investors and first-time homebuyers helped boost existing-home sales in January — the third increase in the past four months, the National Association of Realtors reported.

NAR said total existing-home sales — including single-family homes, townhomes, condominiums and co-ops — were up 4.3 percent from December to January, to a seasonally adjusted annual rate of 4.57 million.