Diana Olick recaps today's report. Unfortunately, one has to tolerate Erin and Bob during the segment and Erin can't focus on anything but cash buyers. Of course Bob has to spew his vast experience with economic data. Wow Bob, we need more jobs and home sales in an effort to show the economy is expanding. Time for your nap Bob.
Existing home sales for February down 0.6%.
35% of sales are "distressed" and first time homebuyers represent 42%.
77% of total sales are distressed or first time home buyers.
Yes, Erin, 27% of sales were cash buyers.
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