Existing-home sales in March climbed the fastest in 18 months
Source: MarketWatch
Economic Report
By RuthMantell
Economics reporter
WASHINGTON (MarketWatch) — Springing back from a tough winter and supported by the growing economy, sales of used homes in March reached the fastest pace in 18 months, according to data released Wednesday.
If such strong results keep up, 2015 could be the best year for used-home sales in almost a decade, said Lawrence Yun, chief economist of the National Association of Realtors.
“After a quiet start to the year, sales activity picked up greatly throughout the country,” he said. “The combination of low interest rates and the ongoing stability in the job market is improving buyer confidence and finally releasing some of the sizable pent-up demand that accumulated in recent years.”
Sales of existing homes rose 6.1% in March to a seasonally adjusted annual rate of 5.19 million, the fastest pace in 18 months, the National Association of Realtors reported Wednesday. Economists polled by MarketWatch had expected a March rate of 5.08 million, after a slightly revised 4.89 million pace in February. ... Treasury yields shot higher after the housing data.
Read more: http://www.marketwatch.com/story/existing-home-sales-in-march-climbed-the-fastest-in-18-months-2015-04-22
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