Existing home sales jump higher than expected

Even though prices went down again, it’s still good to see a forecast that over-delivers.

The pace of sales of existing home in the U.S. rose 5.1 percent in February to a 4.72 million-unit annual rate, rebounding from the previous month’s drop, while home prices fell again, the National Association of Realtors said on Monday.

Economists polled by Reuters were expecting home resales to slip to a 4.45 million-unit pace, from the 4.49 million rate initially reported for January, which was unrevised. February’s sales increase was the largest since July 2003.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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