WASHINGTON (January 22, 2013)--Sales of previously occupied homes rose in 2012 to the highest level in five years, spurred higher by record-low mortgage rates and steady hiring, the National Association of Realtors said Tuesday.
The association said sales reached 4.65 million last year, up 9.2 percent from 2011 and most since 2007.
Sales are still below the roughly 5.5 million that are consistent with a healthy market.
Sales dipped in December to a pace of 4.94 million, down from 4.99 million in November.
November's figure was revised lower, but was still the highest in three years.
The supply of available homes is shrinking as sales rise, which is pushing up prices.
The inventory of homes for sale dropped to 1.82 million in December, the lowest in 12 years.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.