WASHINGTON — U.S. sales of previously owned homes rose in February to the highest level in more than three years, the National Association of Realtors said Thursday.
Sales increased 0.8 percent in February from January to a seasonally adjusted annual rate of 4.98 million. That was the fastest sales pace since November 2009, when a temporary homebuyer tax credit drove sales up. The February sales pace was 10.2 percent higher than the same month a year ago.
Steady hiring and low mortgage rates have spurred sales and prices in many markets. The Realtors’ group said the median price for a home sold in February was $173,600, up 11.6 percent from a year ago.
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