Home sales hit 7-year high as prices also climb

(RECAP: The pace of existing-home sales rose in December, pushing 2013’s tally to the highest level in seven years as an improving economy and pent-up demand boosted results, according to data released Thursday. The seasonally adjusted annual rate of sales rose 1% in December to 4.87 million, the National Association of Realtors reported. Meanwhile, for all of 2013 sales hit 5.09 million, the most since 2006, and up 9.1% from the prior year.)