March 24, 2008
Home Re-Sales Increase In February
By Matthew L. Brown
According to the National Association of Realtors , the number of home re-sales increased by 2.9 percent in February compared to January.
The association reported the sale of 5.03 million existing homes in February compared to 4.89 million sold in January. Still, that's 23.8 percent fewer homes than the 6.6 million sold in February of 2007.
The association said low interest rates and a national median price of $195,900 had encouraged homebuyers, but said a "notable gain" in existing home sales is not expected until the second half of the year.
The association reported the sale of 5.03 million existing homes in February compared to 4.89 million sold in January. Still, that's 23.8 percent fewer homes than the 6.6 million sold in February of 2007.
The association said low interest rates and a national median price of $195,900 had encouraged homebuyers, but said a "notable gain" in existing home sales is not expected until the second half of the year.
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