US homes sales rose in February as homebuyers seized on easing mortgage rates
Newsy
Sales of previously occupied U.S. homes picked up in February as home shoppers took advantage of easing mortgage rates and a modest increase in properties on the market.
Sales of previously occupied U.S. homes picked up in February from the previous month as home shoppers took advantage of easing mortgage rates and a modest increase in properties on the market heading into the spring homebuying season.
Existing home sales rose 1.7% last month from January to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors said Tuesday.
Sales fell 1.4% compared with February last year, with every region except the South posting lower sales versus a year earlier. The latest sales figure topped the 3.84 million pace economists were expecting, according to FactSet.
“Good momentum, but nonetheless sales are still below one year ago,” Lawrence Yun, NAR’s chief economist, said during a conference call.
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