Existing Home Sales Jump 12% in December

Existing home sales rose 12% in December, the National Association of Realtors said Thursday.

The gain to an annual rate of 5.28 million, the highest level since May, from an originally reported 4.68 million in November.

Economists had forecast a rise to a 4.87 million rate, Bloomberg reported.

For the full year, sales fell to 4.91 million, the lowest since 1997.