Housing Sales Surge

Home sales jumped 8.8 percent in February.
2:30 | 03/21/12

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Transcript for Housing Sales Surge
We have some hopeful news for homeowners and homebuyers a big surge in sales existing home sales. Jumped eight point 8% in February after a very strong January making this the best winter for the housing market. In five years and experts say the sale of just one house can have a big ripple effect is NBC's David here tells us now David -- See Diane one economist reminded us here today that some homes have been on the market for a year or more before selling now that average -- four months and other side is picking up. And we start with -- one view or buying up. Massachusetts mom Jennifer Manning took world news and assorted video tour this afternoon of their new home. Our home. It's their first spring in Groveland Massachusetts. -- -- They're here now because they finally sold their last home eight months on the market and upstate New York selling that house but allowed to buy their new one. They upgraded following a new job for her husband and in buying this house of the couples selling to move on and build their brand new home. It's that simple domino effect economists say they're slowly started to see. It's jobs and confidence and we've been adding jobs and that's good because it gives people the confidence to go out and -- And what truly drives the housing market. Those existing homes 90% of all home sales are brand new ones but the ones already there in your neighborhood. And who's driving the best winter sales and five years couples like Andy and -- in Atlanta profiled by the popular program house hunters. They were hunting for -- home 200000 or less. The first just under 200003. Bedrooms and -- -- kitchen. Make -- and it was hot and it was totally updated that I don't need your help. And back. The second just under 190002. Bedrooms instead of three -- it giant backyard. And lastly the least expensive 185 grand but by far the largest but the renovations also the costliest. They bought number two that he be called an -- -- been renovating before. And after -- surprise here at any shares Ellington -- -- -- -- Schools and I don't even -- Doesn't -- on Michigan worked on a jigsaw nail -- all on the list I did talk to the couple late today they have now spent. 3000 dollars or so on those renovations and that's another part this domino were reporting on Diane. Last week a reporter on this broadcast Home Depot Lowe's -- with sales -- because the buyers were now. I mean buying and and may their tribe increase -- into the mirror.

This transcript has been automatically generated and may not be 100% accurate.

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