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Sales of existing homes rose 12.3 percent in December, which was well above expectations. Gains were broad-based with increases in both single-family and condo sales. Distressed transactions, however, still account for a significant portion of total sales at 36 percent, which is an increase from 33 percent in November. Investors accounted for 20 percent of transactions. All-cash sales also remain elevated at 29 percent.
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~Courtesy of Wells Fargo