Sales of previously occupied U.S. homes bounced back in February as home shoppers took advantage of easing mortgage rates and a modest increase in properties on the market heading into the spring homebuying season.

Existing home sales rose 1.7% last month from January to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors said Tuesday.

Sales fell 1.4% compared with February last year. The latest sales figure topped the 3.84 million pace economists were expecting, according to FactSet.

 

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