Indicators
US Existing-Home Sales Top Estimates, Rebound From Bad Weather
First-time buyers accounted for 31% of purchases.
Photographer: Michaela Vatcheva/BloombergThis article is for subscribers only.
Sales of previously owned homes in the US unexpectedly bounced back in February, spurred by a greater supply of houses and improved weather heading into the crucial spring period.
Contract closings increased 4.2% to an annualized rate of 4.26 million in February, according to National Association of Realtors figures released Thursday. The figure exceeded all estimates in a Bloomberg survey of economists.