or did home sales increase in February? Finally some good news for our industry!
An unexpected increase of homes sales was recorded in February 2008, which was the 1st time in a year. This news had economists surprised as they were expecting a small decrease. The National Association of Realtors said that existing home sales rose by 2.9%. to an adjusted annual rate of 5.03 million units.
Analysts are also cautioning us not to read too much into this information. They are not expecting a notable gain in homes sales until the 2nd half of this year but they said that February's rise was another sign that the market was stabilizing. The Northeast saw a rise in sales of 11.3%, the Midwest saw a rise of 2.5% and the South saw a rise of 2.1%. The only area that saw a decrease of 1.1% was the West.
Here's to a wonderful Spring Market!
Comments (5)Subscribe to CommentsComment