Existing Homes Sales Post Huge February Gain


Posted To: MND NewsWire

Existing home sales took off like a rocket in February, with strong results in three of the four major regions. The National Association of Realtors® (NAR) said single-family homes, townhouses, condominiums and cooperative apartments were sold during the month at a seasonally adjusted annual rate of 5.51 million. This is an 11.8 percent increase over the January sales rate of 4.94 million and is the largest month-over-month gain since December 2015. Despite the unexpected gain, months of lackluster sales have left year-over-year sales behind by 1.8 percent. Analysts were looking for results in a range of 4.99 million to 5.47 million. Econoday , sponsor of the poll, said their consensus of 5.10 million reflected an expected rebound in the West, an accurate prediction in part. Single-family…(read more)

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