February home sales hit strongest pace in a year as mortgage rates ease and more houses hit market

France Nouvelles Nouvelles

February home sales hit strongest pace in a year as mortgage rates ease and more houses hit market
France Dernières Nouvelles,France Actualités

Sales of previously occupied U.S. homes rose in January from the previous month to the strongest pace in a year as homebuyers were encouraged by a modest pullback in mortgage rates and more properties on the market.

BusinessA"for sale" sign is displayed in front of a home in Mount Prospect, Ill., Monday, March 18, 2024. On Thursday, March 21, 2024, the National Association of Realtors reports on existing home sales for February. – Sales of previously occupied U.S. homes rose in January from the previous month to the strongest pace in a year with homebuyers encouraged by a modest pullback in mortgage rates and more properties on the market.

The pickup in sales helped push up home prices compared with a year earlier for the eighth month in a row. The national median sales price climbed 5.7% from a year earlier to $384,500. That’s the highest median sales price for February on records going back to 1999. At the end of last month, there were 1.07 million unsold homes on the market, a 5.9% increase from January and up 10.3% from a year earlier. That's the highest inventory of homes for sale for February since 2020, the NAR said.

 

France Dernières Nouvelles, France Actualités



Render Time: 2025-01-09 17:57:54