US property sales rise steadily in US helped by first time buyer credit, report shows

[Nicholas Wallwork]

Residential property sales, excluding new homes, in the US rose in March for the first time in*four months with foreclosures accounted for 35% of transactions, according to the latest figures.

Sale climbed 6.8% to a 5.35 million annual rate, more than expected, from a 5.01 million pace in*February, figures from the National Association of Realtors (NAR) show.

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