KTVN Channel 2 - Reno Tahoe News Weather, Video - Home Sales Jump More Than 4% in January

Home Sales Jump More Than 4% in January

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Home sales rose in January to the highest pace in nearly two years, flashing signs of health ahead of the spring-buying season.

The National Association of Realtors says home sales increased 4.3% last month to a seasonally adjusted annual rate of 4.57 million. That's the highest level since May 2010.  

Sales have risen in three of the past four months. But they remain well below the 6 million that economists equate with a healthy market. 

First-time buyers, who are critical to a recovery, are increased slightly to 33% of sales. In healthy markets, first-time buyers make up at least 40%.

Homes at risk of foreclosure made up 35% of sales last month, up from 32% in December. (AP)

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