U.S. Existing Home Sales Unexpectedly Spike 9.5% In February
After reporting a notable increase in U.S. existing home sales in the previous month, the National Association of Realtors released on report on Thursday showing existing home sales unexpectedly continued to soar in the month of February.
NAR said existing home sale index spiked by 9.5 percent to an annual rate of 4.38 million in February after jumping by 3.1 percent to a rate of 4.00 million in January.
The continued surge came as a surprise to economists, who had expected existing home sales to pull back by 1.5 percent to a rate of 3.94 million.
Economic News
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