Existing-home sales rose strongly in February reaching the highest level since last April, and follows a healthy gain from January, according to the NATIONAL ASSOCIATION OF REALTORS®.
Total existing-home sales “” including single-family, townhomes, condominiums, and co-ops “” rose 3.9 percent to a seasonally adjusted annual rate of 6.69 million units in February from a downwardly revised level of 6.44 million in January. Still, the numbers are 3.6 percent below the 6.94 million-unit pace in February 2006.
Nevertheless, last month’s increase was the biggest monthly rise in three years “” sales last rose 3.9 percent in March 2004.