U.S. existing-home sales rebound even as inventory remains tight

U.S. EXISTING HOME SALES rose 3 percent month to month in February and median sales price rose 5.9 percent year over year to $241,700. / BLOOMBERG FILE PHOTO/SCOTT MCINTYRE
U.S. EXISTING HOME SALES rose 3 percent month to month in February and median sales price rose 5.9 percent year over year to $241,700. / BLOOMBERG FILE PHOTO/SCOTT MCINTYRE
NEW YORK - Sales of previously-owned United States homes rose more than expected in the first gain in three months, indicating that job gains and tax cuts are supporting demand despite low supply, National Association of Realtors data showed Wednesday. Highlights of existing-home sales (February) Contract closings increased 3 percent month to month to a 5.54 million…

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