The bottom line

■ Sales of existing homes surged 9.5 percent to a seasonally adjusted annual rate of 4.38 million in February, the National Association of Realtors said. It’s the first time in more than two years that sales have increased for two consecutive months. Homes that sold for more than $1 million shot up 37 percent, compared with the same month a year ago. The Wall Street Journal

■ Last year, 120,000 high-networth individuals—or those who have over $1 million of liquid investable assets—moved to a different country, according to Henley & Partners. Australia was the No. 1 destination for the über-rich, with a net inflow of 5,200 millionaires, ahead of the United Arab Emirates (4,500) and Singapore (3,200). Qz.com

■ WeWork’s co-founder and ex-CEO Adam Neumann and several partners submitted a $500 million bid to buy the troubled office-sharing firm out of bankruptcy. WeWork’s 2019 peak valuation was $47 billion. Bloomberg

■ State Farm will discontinue coverage for 72,000 houses and apartments in California, starting this summer. The company last year stopped issuing new policies in the state, citing soaring costs, regulations, and the increasing risk of catastrophes like wildfires. CBSNews.com

■ A report from Lixil Americas, maker of bathroom fittings, estimates that the U.S. will be short about 550,000 licensed plumbers by 2027. Lixil also estimates the plumber shortage cost the economy about $33 billion in 2022. Bloomberg

■ Almost 940,000 Americans have yet to claim their 2020 tax refund. There’s more than $1 billion worth of unclaimed refunds that will be left on the table if people don’t file their 2020 tax return before May 17. Axios