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February home sales rise as prices sink

February home sales rise as prices sink

February home sales rise as prices sink

A house with a pool is advertised for...


WASHINGTON  — One month does not a recovery make. But a surprising leap in existing home sales in February was a welcome if tentative sign of hope that the real estate market may be stabilizing.

While sales of existing homes remain at lows not seen in more than a decade, economists were encouraged by the news, saying it reflected buyers who were taking advantage of deep discounts on foreclosures and other distressed properties. That's essential if home prices are to find their long-awaited bottom.


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