U.S. home resales rose slightly in December after three monthly falls in a row, as record low mortgage interest rates and pent-up demand continue to sustain a recovery in the market.
The National Association of Realtors (NAR) said on Thursday that sales of previously owned homes rose 1.0 last month, to an annual rate of 4.87 million units. Total sales for 2013 were the strongest in seven years.
Economists polled by Reuters had expected home resales to rise to a 4.94 million-unit pace in December.
"For the year as a whole, it's a good recovery," NAR economist Lawrence Yun told reporters. "We lost some momentum toward the end of 2013."