Existing home sales increase in February

Sales of existing homes rose in February, according to data released
today by the National Association of Realtors. Sales of single-family
homes, townhomes, condominiums and co-ops rose 5.1 percent from
January but are still 4.6 percent below February 2008 levels. Sales of
distressed properties, many purchased by first-time buyers looking for
deals, made up 40 to 45 percent of February’s sales transactions.
CNBC’s Hampton Pearson takes a look at the data.