<p>Demand for housing jumped 14.7% in February, the first increase in eight months, according to the latest Hometrack survey of 5,000 agents and surveyors.</p> <p>The respondents reported a 25% increase in sales agreed, while the supply of homes for sale increased by 7.5%. Prices fell 0.2% in the month, the lowest monthly decline in six months.</p> <p>Commenting on the figures, Hometrack's director of research Richard Donnell said: "The reality is that the outlook for the market remains finely balanced. We expect a continued modest pick up in demand over March but the timing of interest rate rises is critical. Any interest rate rises in the near term are likely to impact market confidence to a greater degree than affordability."</p> <p> </p>