U.S. existing home sales saw one of the largest increases on record in February as buyers took advantage of lower mortgage rates, the National Association of Realtors said Tuesday.

Sales jumped 14.5% in February to a seasonally adjusted annual rate of 4.58 million, but are down 22.6% from a year ago.

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U.S. existing home sales saw one of the largest increases on record in February as buyers took advantage of lower mortgage rates, the National Association of Realtors said Tuesday.

Sales jumped 14.5% in February to a seasonally adjusted annual rate of 4.58 million, but are down 22.6% from a year ago.

Keep reading...Show less

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MNI: US Feb Existing Home Sales See Huge Rebound