January 2015 US existing home sales 4.82m vs 4.97m exp

• Prior 5.04m. Revised to 5.07m
• Median prices +6.2% y/y to $199,600
• Distressed sales 11% unchanged on Dec
• Sales inventory 1.87m or 4.7 months worth

The NAR says it's a puzzle why people are staying in homes for longer. They see more people staying put for 10 years rather than the average of 7 and say it may be due to being locked into a mortgage rate or are unsure of the recovery