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February home sales rise (5.1% over Jan) as prices sink [View All]

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JohnWxy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-24-09 11:06 AM
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February home sales rise (5.1% over Jan) as prices sink
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Edited on Tue Mar-24-09 11:10 AM by JohnWxy
http://news.yahoo.com/s/ap/20090323/ap_on_bi_ge/home_sa...

The National Association of Realtors said Monday that sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January.


http://www.usatoday.com/printedition/money/20090324/hom...


Sales rose in February to a seasonally adjusted annual rate of 4.72 million units from a pace of 4.49 million units in January, but they are still 4.6% below the 4.95 million-unit level in February 2008.

"It was nice to see," says Joel Naroff, with Naroff Economic Advisors. "February and December were similar (in showing an increase). If there is another similar increase in March, I will think prices may be stabilizing. Sales have pretty much hit bottom."



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