Existing home sales in the US surged a surprising 6.1 percent in March to a 5.19 million annualized pace, according to the National Association of Realtors (NAR). It was the best monthly performance for existing home sales in a year and a half
A harsh winter is never good news for the housing market, and this year was one for the books. But there are early indications that the spring buying season could provide an extra bit of relief this year.
After months of disappointing results, sales of existing homes in the US heated up 6.1 percent in March to a 5.19 million annualized pace, according to a report released Wednesday by the National Association of Realtors (NAR). That was a big increase from the 4.89 million pace recorded in February, and analysts had expected a smaller rise, to about a 5.03 million rate. The increase was the best monthly showing for existing home sales in 18 months.
Existing sales accelerated in all regions of the country. The Midwest had the largest jump, at 10.1 percent. The Northeast, West, and South saw increases of 6.9 percent, 6.3 percent, and 3.8 percent, respectively.
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