Sales of previously owned homes jumped 5.7 percent in March after two winter-related monthly declines, a real estate trade group said Monday, as every region except the Northeast participated in the rebound.
“Adverse weather conditions slowed sales temporarily, and now we are experiencing some catchup,” said John A. Tuccillo, an economist for the National Association of Realtors.
The association reported sales totaled 4.06 million at a seasonally adjusted annual rate, up from a revised 3.84 million in February. Regionally, sales in the Midwest shot up 9.8 percent to a 1.01 million annual rate. Sales surged 8.5 percent in the South and were up 2.2 percent in the West. But they slipped 1.7 percent in the Northeast. Economists were encouraged that there was no decline in resales of homes.
