After hitting a record high in January, sales of existing homes in February went down 2.8% to a seasonally adjusted annual rate of 5.88 million, the National Association of Realtors (NAR) reported.
The Conference Board recently reported that the Composite Index of Leading Economic Indicators was flat in February, following a revised 0.8% rise in January, and 1.3% increase in December.
Fewer people are filing for unemployment benefits and U.S. businesses are building up their inventories, according to a recent Labor Department report.