Via the AP: February existing home sales rise by 5.1 percent
Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply following the stock market plunge last autumn.
Prices, however, are expected to keep falling well into the year. Tens of thousands of homes reman tied up in the foreclosure process and are not yet for sale.
Good to see.
Sphere: Related ContentFiled under: The Economy, US Politics | |
The views expressed in the comments are the sole responsibility of the person leaving those comments. They do not reflect the opinion of the author of PoliBlog, nor have they been vetted by the author.
