Home Sales...

Home Sales Rise Unexpectedly in Feb.Friday March 23, 10:48 am ET By Martin Crutsinger, AP Economics Writer


Existing Home Sales Rise in February but Worries About Subprime Lending Increase
WASHINGTON (AP) -- Sales of existing homes unexpectedly rose in February by the largest amount in nearly three years, but analysts expressed fears that the recovery for the battered housing industry will be slowed by spreading troubles in mortgage lending.

The National Association of Realtors reported Friday that sales of existing homes rose by 3.9 percent last month, pushed higher by a sharp increase in sales activity in the Northeast. It was the biggest increase since a similar increase in March 2004.

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