4Q Resales Rise at Near-Record Pace

Total existing-home sales -- including condominiums and co-operatives -- set the second-highest pace on record in the fourth quarter, rising in 47 states from the levels recorded a year earlier, according to the National Association of Realtors.The seasonally adjusted annual resales rate was 7.20 million units in the fourth quarter, up 9.3% from 6.59 million in the fourth quarter of 2002, but down from the record 7.39 million pace set in the third quarter of 2003, the NAR reported. The biggest year-over-year gains were recorded in Wyoming, where the resale rate was up 32.8%; Nevada, up 32.6%; and Alaska, up 24.0%. The NAR can be found online at http://realtor.org.