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Sales Of Existing Homes At Highest Level In Nearly Two Years

There were 4.3 percent more existing homes sold in January than in December, and the 4.57 million annual rate was the highest since May 2010, the National Association of Realtors reports.

Sales have gone up three of the past four months.

Reuters notes, however, that "the tenor of the report was weakened somewhat by a sharp downward revision to December's sales data to show only a 4.38 million-unit rate rather than the previously reported 4.61 million-unit pace."

Still, Bloomberg News says the report adds "to signs the housing market is regaining its footing."