US existing-home sales top estimates, rebound from bad weatherSales of previously owned homes in the US unexpectedly bounced back in February, spurred by a greater supply of houses and improved weather heading into the crucial spring period.
Contract closings increased 4.2% to an annualised rate of 4.26 million in February, according to National Association of Realtors (NAR) figures released on Thursday. The figure exceeded all estimates in a Bloomberg survey of economists.