Number of previously-owned homes sold climbs up

March 21, 2013 7:18:30 PM PDT
There is encouraging news on the nation's housing market.

The National Association of Realtors reports sales of previously owned homes reached an annual rate of nearly five million in February.

That's up 10-percent from the year before and was the best month since November 2009.

Home sales in California are being held back by two things: lower priced homes are hard to come by and many homeowners are waiting for prices to rise before selling.