U.S. home sales dip, credit-related surge eyed

Sales of previously owned U.S. homes fell slightly in February, according to a trade group report on Tuesday that underscored the fragile nature of the housing market's recovery.

The National Association of Realtors said sales fell 0.6 percent month-over-month to an annual rate of 5.02 million units, the third straight month of declines in sales. January's sales were unrevised at 5.05 million units.

Analysts polled by Reuters had expected February sales to drop to a 5 million-unit pace.

Compared to February last year, home sales were 7.0 percent higher.

Read Full Article from Reuters

- Posted: 2010-03-23 10:02:15

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