WASHINGTON (Reuters) - Home resales hit a three-year high in February and prices jumped, adding to signs of an acceleration in the housing market recovery, even though the supply of properties on the market increased.
The National Association of Realtors said on Thursday existing home sales increased 0.8 percent to an annual rate of 4.98 million units last month, the highest level since November 2009. The January sales pace was revised up a 4.94 million units from the previously reported 4.92 million units.
Economists polled by Reuters had expected home resales to rise to a 5 million-unit rate. Homes took about 74 days to sell in February, according to the median estimate, down from 97 days from a year ago. Click here to access the full article.
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