Eric D. Colburn, PLS

BBC NEWS reports Cheap prices lift US home sales.

“Sales of existing homes grew 5.1% in February to an annual rate of 4.72 million, up from January’s 4.49 million, the largest jump since 2003.

The average price fell 16% from a year earlier to $165,000 (£114,000), added the National Association of Realtors”

This is another sign of an improving economy, albeit one largely based on depressed prices the result of distressed properties.

As a side note, and another sign of an improving economy, the Dow Jones Industrial Average Index closed up, yesterday, by +$497.48.

Following the Dow Jones Industrial Average Index, both the NASDAQ Composite Index (+$98.50) and the S & P 500 Index (+$54.38) closed up yesterday, too.