Gross sales of beforehand owned U.S. houses rose sharply in February to the best month-to-month tempo in 13 years amid report low mortgage charges associated to fears in regards to the coronavirus’s impact on the economic system.
House gross sales elevated 6.5% in February in contrast with January at a seasonally adjusted annual fee of 5.77 million, the Nationwide Affiliation of Realtors mentioned Friday. Economists surveyed by The Wall Street Journal anticipated gross sales to rise 0.7% to a 5.50 million annual fee.
Present-home gross sales had been up 7.2% in February from a yr earlier, the eighth consecutive year-over-year rise.
The info mirrored gross sales exercise earlier than the spread of the coronavirus within the U.S.