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U.S. Existing Home Sales Decrease Unexpectedly

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U.S. home resales fell more than expected in February amid a persistent shortage of houses on the market. According to retuers. The National Association of Realtors said on Wednesday existing home sales declined 3.7 percent. Demand for housing is being buoyed by a labor market that is near full employment. Home sales remain constrained by the dearth of properties available for sale, which is keeping prices elevated. With supply remaining tight, the median house price surged in February 7.7 percent from a year ago to $228,400. This marks the 60th consecutive month of year-on-year price gains.http://feeds.reuters.com/~r/reuters/t...http://www.wochit.comThis video was produced by YT Wochit News using http://wochit.com

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