Existing Home Sales Rise 5.1% in February

Existing homes sales rose 5.1% in February, the National Association of Realtors said Monday.

Sales improved to an annual rate of 4.72 million homes, NAR said.

Economists had forecast home resales would fall to an annual rate of 4.45 million units, Bloomberg reported.

The median price of a home fell 15.5% from a year ago, NAR said.