U.S. home resales log first rise in 12 months

Sales of existing U.S. homes soared by 14.5 percent to an annualized pace of 4.58 million units in February, according to the (U.S.) National Association of Realtors. It was the largest increase since July 2020, ending a 12-month streak of declines and exceeding analyst expectations of a five-percent hike. Single-family home sales hit a rate of 4.14 million in February, up 15.3 percent from January’s rate of 3.59 million but down 21.4 percent from a year earlier.