National home sales up in 2013

Nationwide sales of existing homes rose slightly in December, lifting sales to their highest level in seven years.
Sales increased to a seasonally adjusted annual rate of 4.87 million units last month, a one percent increase compared with November, according to the National Association of Realtors in Washington, D.C.
Both months represented a slower rate of sales than was recorded in 2013, mostly because of higher prices and higher mortgage rates, according to the data.
There were 5.09 million housing units sold throughout the United States last year, the best year recorded since 2006, and median prices rose 11.5 percent to $197,100, according to the report.