Realtors Say Home Sales Rise in January

Washington, DC, Feb. 23, 2011 -- Sales of existing homes rose 2.7% in January for the fifth monthly rise in six, the National Association of Realtors said Wednesday.

NAR has also announced a major review into the quality of its data, responding to allegations that its data has been significantly overstated in recent years.

NAR said sales of existing homes were at an annualized rate of 5.36 million, from a downwardly revised 5.22 million in December.