U.S. home resales hit 13-year high

WASHINGTON ― Sales of existing homes in the U.S. rose by 6.5 percent in February, according to the National Association of Retailers. The seasonally adjusted annual rate of 5.77 million was the strongest increase since February 2007, and was 7.2 percent above last February’s rate. Single-family home sales rose from a SAAR of 4.82 million in January to 5.17 million in February, 7.3 percent above the rate a year prior.