New report may show home sales on the rise

[February 25, 2009]  NEW YORK (AP) -- A trade group report today on sales of existing homes is expected to show selling increased slightly in January.

The increase would mark the second straight month of improvement from November's record low.

Sales are expected to rise to a seasonally adjusted annual rate of 4.79 million units, from 4.74 million a month earlier, according to economists surveyed by Thomson Reuters. The National Association of Realtors' report is due at 10 a.m. EST.

[Associated Press; By TIM PARADIS]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.