National Existing Home Sales Up 5.1 Percent In Feb
The pace of sales of existing homes nationwide rose 5.1 percent in February to a 4.72 million-unit annual rate, rebounding from the previous month’s drop, while home prices fell again the National Association of Realtors said on Monday.
Economists polled by Reuters were expecting home resales to slip to a 4.45 million-unit pace, from the 4.49 million rate initially reported for January, which was unrevised. February’s sales increase was the largest since July 2003.
The inventory of existing homes for sale rose 5.2 percent to 3.80 million from the 3.61 million overstock reported in January. The median national home price declined 15.5 percent from a year ago to $165,400. That was the second biggest decline on record.
« Does your buyer want to move in before they close on the new house? | Home | Pending home rise 2.1 percent in Feb. from Jan »
Leave a Comment