Single-family existing-home sales increased 5.7% from January to February to a seasonally adjusted annual rate of 3.89 million, down 0.3% from February 2024, according to the National Association of Realtors.
The median single-family home price was $402,500 in February, up 3.7% from February 2024.
Total existing-home sales increased 4.2% from January to February, reaching a seasonally adjusted annual rate of 4.26 million. Year-over-year sales decreased 1.2%.
"Home buyers are slowly entering the market," NAR Chief Economist Lawrence Yun said in a statement. "Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand."
Read the full report here.
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