US median home price soars 6.8% in a year

U.S. median sales price jumped 6.8% in a year as low mortgage rates helped motivate house hunters.
The National Association of Realtors said Friday the median sales price of existing homes in January was $266,300, up from $249,400 a year ago.
Sales of existing homes slipped 1.3% last month to a seasonally adjusted annual rate of 5.46 million. Sales have climbed 9.6% over the past 12 months as borrowing costs have fallen.
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