February Existing Home Sales Rise

Is the housing market getting better? The Associated Press reports that existing home sales jumped 5.1 percent in February, “the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.” The AP warns, however, that prices “are expected to keep falling well into the year. Tens of thousands of homes remain tied up in the foreclosure process and are not yet for sale.”