Modest Recovery Keeps Existing Home Sales in The Same Old Range

Existing-home sales rebounded modestly in February, recovering some ground after January’s sharp pullback, while improving affordability and slowly expanding inventory helped support buyer activity.Sales rose 1.7% to a seasonally adjusted annual rate of 4.09 million .  “Housing affordability is improving, and consumers are responding,” said NAR Chief Economist Lawrence Yun. The group’s Housing Affordability Inde…