The National Association of Realtors reported this morning that existing home sales rose 3.9% in February to a seasonally adjusted annual rate of 6.69 million, the strongest gain since March of 2004.
Coming on top of what NAR called "healthy" gains in January, the new data suggests the housing market is improving, said the NAR, although its chief economist, David Lereah, allowed that he was surprised by the gain. Still, the NAR sees the possibility of a slowdown in March.
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