The National Association of Realtors reported that existing home sales were actually up 2.9 percent for the month of February – the first time since July that sales posted a monthly increase.

Sales of previously owned homes reached a 5.03 million-unit annual rate, surprising experts from Main Street to Wall Street. The increase also helped reduce the number of unsold homes on the market, too, which fell 3 percent to 4.03 million units at the end of February.

While the numbers are still high for existing inventory, it’s nice to have some good news. What’s the situation like in your neck of the woods? Let us know!

SOURCE: Nation’s Building News Online