Last month, the annual rate of pre-owned residential home sales accelerated from the final month of last year. The improvement was led by sales in the West.

There were 320,000 existing home sales — including single family homes, townhomes, condominiums and co-operatives — closed in the first month of this year.

Home sales sank when compared to 437,000 units sold during December 2016. But the number of closings was greater than 302,000 during January 2015.

Source: Mortgage Daily