Existing home sales post surprising gain last month

[PhiGam]

http://www.cnbc.com/id/28854489

Sales of existing homes rose 6.5 percent from November to December, closing out the worst year for the U.S. real estate market in more than a decade, an industry trade group said Monday.

The National Association of Realtors reported that sales of existing homes rose to an annual rate of 4.74 million in December, from a downwardly revised pace of 4.45 million in November.