Home sales hit highest rate in 3 years

Posted by Bonnie Martin Designated Broker on Thursday, March 21st, 2013 at 11:04am.

money.cnn.com - Sales of previously owned homes reached an annual rate of nearly 5 million in February, the strongest pace in more than three years.

The report Thursday from the National Association of Realtors was the latest sign of a housing recovery that has become a major positive force for the economy.

The February rate of 4.98 million homes was up 10% from a year earlier, although it was only 1% higher than the revised January pace.

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