Yesterday, CNN Money reported:
Sales of existing homes unexpectedly rose in February, recovering from a sharp drop in the previous month, according to an industry report released Monday.The biggest increase came in the south, up a seasonally adjusted 6%.
The National Association of Realtors said that existing home sales rose last month to a seasonally adjusted annual rate of 4.72 million million units, up 5.1% from a rate of 4.49 million in January. February sales were down nearly 5% from year ago levels.
![](http://1.bp.blogspot.com/_8rpY5fQK-UQ/ScgtW9vPbaI/AAAAAAAAGQY/YhTfWizOrnw/s400/exizt.png)
The good news is these sales, while down year over year, weren't at fire sale prices (i.e. California'ish), as prices were up slightly despite the jump in sales.
![](http://4.bp.blogspot.com/_8rpY5fQK-UQ/ScgsTndnfNI/AAAAAAAAGQQ/cA8yMOpB0ko/s400/sales.png)
Finally, looking at the relative prices in all regions, the chart below shows the "spread" of regional prices to the national average, with the West showing relative weakness.
![](http://3.bp.blogspot.com/_8rpY5fQK-UQ/ScgsOexfcvI/AAAAAAAAGQI/PnFRGDzb5jg/s400/spread.png)
Source: Realtor.org
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