Home Sales Rose 4.2% in February, Beating Expectations

Sales of existing homes rose in February, reflecting an increase in shopping activity and in the number of homes for sale since the start of the year.

U.S. existing-home sales rose 4.2% in February from the prior month to a seasonally adjusted annual rate of 4.26 million, the National Association of Realtors said Thursday. That was far better than expectations. Economists surveyed by The Wall Street Journal had estimated a monthly decrease of 3.2%.