Existing Home Sales Increase in February

Washington, DC, March 21, 2013 --  Existing-home sales rose 0.8% in February to an annual rate of 4.98 million, the highest level since November 2009, according to the National Association of Realtors.

NAR upwardly revised January's rate up to 4.94 million from 4.92 million. Inventories rose 9.6% in February to 1.94 million existing homes for sale.

Compared to a year ago, the median sales price rose 11.6% to $173,600.