Existing home sales exceeded six-million in February according to the National Association of Realtors. This is only the eight month that the six-million mark was exceeded. Here's a snippet from the Inman News article:
Existing-home sales increased 2 percent in February to a seasonally adjusted annual rate of 6.12 million units from a downwardly revised pace of 6 million units in January. Last month's sales activity was 5.7 percent above the 5.79-million-unit pace in February 2003.
David Lerah, NAR's chief economist, says home sales could exceed expectations.
"Currently, we are projecting that home sales will decline slightly, but they remain at exceptionally high levels," Lereah said. "With a strong underlying demand for housing from a growing population in a recovering economy, we could be flirting with another record this year."
That's more good news for the economy.
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