Us: january existing home sales preview - gains expected

Existing home sales are expected to rise in January as the broader U.S. economy improves, according to analysts and industry experts.

A group of 28 analysts polled by Reuters expect an average of 4.66 million existing home sales in January, up from 4.61 million in December, when the National Association of Realtors releases the figures Wednesday morning.

"I think we're in a situation where we're seeing baby steps toward growth," said John Tashjian, a principal with development company Centurion Real Estate Partners.

He cited recent improvements in employment, with jobless claims falling to 358,000 last week. Another positive factor could be the relatively mild winter, which could boost traffic to real estate showings, he said. 

Source:  IBTimes.com