U.S. residential real estate markets remain weak

Existing home sales in the U.S. declined in February, continuing a 3 month trend, according to the National Association of Realtors. However, February’s sales were a 7% improvement over last February.

The level of existing home sales is an important leading indicator for new home construction, which in turn makes an important contribution to the growth of the gross domestic product.

See: U.S. existing home sales in February displayed further weakness, by Alex Carrick, CanaData Chief Economist.

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