Home Sales Rise in February 2009
Existing home sales rose 5.1% in February, reversing losses in January. Favorable market conditions and government-granting incentives are gaining traction in attracting a larger wave of first-time home buyers, who accounted for half of all home sales last month.
More robust activity is expected in the next few months. A recent House Hunt survey revealed that the U.S housing market appears to be showing early signs of emerging from the worst real estate market in three years.