• New home sales unexpectedly surge to a 7 - year high
  • Existing home sales tick up, but not close to pre - recession levels
  • The S outh saw especially strong total sales, despite unusual winter weather
Despite signs of heavy weather - related impacts in February, b oth the existing and new home sale releases showed positive moment um going into the critical spring selling season. Although e xisting home sales fell below expectations, rising slightly to a rate of 4.88 million, new home sales were far above consensus, at an annualized pace of 539,000.

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