Home sales up 5.1% in U.S.

Sales of existing homes jumped 15.6 percent in the Northeast last month, according to a new report from the National Association of Realtors.

On a national level, existing home sales were up 5.1 percent in February, the report found.

But sales in the Northeast are still soft -- more than 15 percent lower than February 2008.

More than 40 percent of sales in February across the nation were of foreclosed properties, or properties in default that were being sold for less than the mortgage balance.

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- Posted: 2009-03-24 09:55:05

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