Coldwell Banker Tatman, Realtors® Blog

National Assn. Realtors...Home Sales

HOME SALES POST BIGGEST JUMP IN TWO YEARSHome sales posted their biggest gain in two years in February, NAR said Thursday in a report that showed surprising strength in the housing market. The report showed that existing homes sold at an annual rate of 6.91 million in February, up from a revised 6.57 million pace in January. The 5.2% rise was the biggest gain since a 5.9% jump in February 2004. The surprise pickup in February sales may have been due partly to favorable circumstances in January, as the report is based on when sales close, not when contracts are signed. NAR's statement said the warmest January on record may have helped to spur sales, while a brief dip in mortgage rates that month also probably helped. (Source: CNNMoney.com)