Sales of existing single-family homes rose last month, marking only the eighth month on record that the sales pace has reached or exceeded the 6 million mark, according to the National Association of Realtors (NAR).
Existing-home sales increased 2.0 percent in February to a seasonally adjusted annual rate of 6.12 million units from a downwardly revised pace of 6.00 million units in January. Last month's sales activity was 5.7 percent greater the 5.79-million unit pace in February 2003.