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Sales of previously owned homes rebound in March

Contract closings climb 5.1% to 5.33m annualised rate from February's 5.07m

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Published Wed, Apr 20, 2016 · 09:50 PM

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Washington

PURCHASES of previously owned US homes rose more than projected in March, indicating resilience in demand heading into the spring selling season.

Contract closings climbed 5.1 per cent to a 5.33 million annualised rate from February's 5.07 million, figures from the National Association of Realtors (NAR) showed on Wednesday in Washington. Prices rose as inventories remained tight.

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