The National Association of Realtors said that sales of existing single-family homes and condomiums rose by 5.2 percent in February to a seasonally adjusted annual rate of 6.91 million units.
Analysts said the weather-related boost was likely to be short-lived with sales expected to slow again in coming months as rising mortgage rates further cool the housing market which has posted record sales levels for five straight years.
How does warm weather boost demand for housing seems like cold weather would.
In fact, many claim that rising mortgage rates cause an increase in home sales. When rates are falling, people think they can wait. When rates start to rise, people think they'd better buy right away.
BLAME BUSH !!!!!
Bush's fault!
Fears of Inflation/Recession worry Economists!
Pray for W and Our Freedom Fighters