National REALTOR Association: Existing Home Sales Rise In February

Existing Home Sales Rise In February

WASHINGTON, March 24, 2008 -

Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®. Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September.

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