Existing Home Sales Rose Nationwide for February

Nationwide, Existing Home Sales rose in February by 5.1% according to the National Association of Realtors. This brings the "seasonally adjusted annual rate to 4.72 million units in February from a pace of 4.49 million units in January, but are 4.6 percent below the 4.95 million-unit level in February 2008," NAR reported.

The Basking Ridge Real Estate Market, did not reflect the broader trend of the nation. Sales for Basking Ridge continued to slump with only 7 units closing. On the brighter side, properties going Under Contract, a more forward looking indicator, rose to 18 for the month of February.

For more statistical data and real estate resources, go to "The Norrod Team.com".

To view the National Association of Realtors full report, click here.