Home Sales Rising to Three-Year High Propel U.S. Growth

Americans bought existing homes at the fastest pace in three years in February as borrowing costs near record lows spurred a housing revival that’s forecast to boost economic growth this year.

Purchases increased 0.8 percent to a 4.98 million annualized rate, the most since November 2009, the National Association of Realtors said today in Washington. Other figures showed applications for jobless benefits over the past month fell to the lowest level since February 2008, while consumers’ views of the economic outlook brightened in March.