Housing Still Back

The tide of positive housing data continues to roll in. In January, existing home sales rose 0.4 percent in January from December, coming in at an annual rate of 4.92 million. More significantly, existing home sales in January 2013 were up a solid 9.1 percent from January 2012. The median price of a home sold in January 2012 was $173,600, up an impressive 12.3 percent from January 2012. Inventory also fell. The upshot: despite slightly higher mortgage rates, homes are moving more quickly—and at higher prices.