Rising Sales Prices Are Excellent News For Homeowners Across America
The National Association of REALTORS® released its monthly Existing Home Sales report on March 21 and gave investors and home sellers something to cheer about. While February sales of existing homes didn't meet investor forecasts of 5.00 million homes sold on a seasonally adjusted annual basis, the actual number of existing (previously owned) homes came close at 4.98 million homes sold. This number surpassed January's revised reading of 4.94 million homes sold by 0.8 percent. Sales of existing homes comprise approximately 85 to 90 percent of homes sold in the U.S. Investors watch existing home sales for evaluating housing markets…