Existing Home Sales Rise to Highest Level in Three Years

Existing home sales rose 0.4% to 4.98 million in January, the highest level in three years, the National Association of Realtors said Thursday.

The level was below economists’ forecasts of a 5 million rate, Bloomberg News reported.

The prior month’s pace was revised up to 4.94 million from a previously reported 4.92 million.