Real Estate News: Home sales rise on biggest-ever price drop

Add a Comment , March 24th, 2008

Realtors’ group sees record 8.2% decline in year-over-year prices in February.NEW YORK (CNNMoney.com) — A record plunge in prices of existing homes produced only a modest increase in sales in February, according to the latest reading on the battered housing market by an industry trade group released Monday.The National Association of Realtors reported that sales by homeowners rose 2.9% in February to a seasonally adjusted annual pace of 5.03 million, up from January’s reading of 4.89 million. It was the first month-over-month rise of the annualized pace since July.Read Full Article

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