U.S. homes rose at their fastest pace in nearly six years

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession-hit economy.

They rose 5.1 percent in February to a 4.72 million-unit annual rate, notching their largest gain since July 2003, the National Association of Realtors said. But about 45 percent of the sales were foreclosure or short-sale transactions. Small-town Texan realtor Rick Cumins is going to see a paycheck in April — his first since December.