The housing market threw the world another curve on Thursday. After five
straight months of declining sales of existing homes, a sixth dreary month
was pretty generally expected. Instead the National Association of Realtors
announced that February sales of previously-owned homes had jumped 5.2
percent from similar sales in January. This was the largest monthly
increase in two years.
Wow, so much for the housing bubble bursting. All of the
"experts" are wrong. The national love affair with real estate continues.
NAR itself said that the encouraging report was a sign that the market was
"stabilizing" and should "level out" in the months ahead.
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