The median existing home price was $363,000 in February, down 0.2% from a year ago. This marks the first year-over-year price decline in 131 consecutive months of year-over-year increases that began in February 2012. But home sales vaulted higher, making the largest monthly percentage increase since July 2020.
3% from one year ago. Unsold inventory sits at a 2.6-month supply at the current sales pace, down 10.3% from January but up from 1.7 months a year ago. “Inventory levels are still at historic lows,” Yun added. “Consequently, multiple offers are returning on a good number of properties.” Sales of existing homes gained ground in February as buyers responded to mortgage rates that were slightly lower as rates had been coming down since November, said Hannah Jones, economic data analyst at Realtor.
Another feather in this administrations cap!!
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