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March 23, 2020

Home sales hit 13-year-high

WASHINGTON (AP) — U.S. home sales jumped in February to their highest level in 13 years, a trend that will almost certainly be reversed as people stop showing their property out of fear of infection in the coronavirus outbreak.

The National Association of Realtors said Friday that home sales jumped 6.5% in February from the previous month, to a seasonally adjusted annual pace of 5.77 million. The report covers contracts that were signed in December and January, with closings in February. The first reports of infections in China occurred on Jan. 31.


 
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