Existing Home Sales Climb 3 Percent in February

After two months of declines, existing home sales took an upward turn in February, growing 3 percent to a seasonally adjusted annual rate of 5.54 million after a rate of 5.38 million in January.

February’s sales were up 1.1 percent compared to February 2017, according to the National Association of Realtors. The median existing home price for all housing types in February was $241,700, an increase of 5.9 percent from last February.

Regionally, the majority of February’s 3 percent growth came from the South and West, offsetting decreases in the Northeast and Midwest.

Existing home sales in the South grew 6.6 percent and 11.4 percent in the West. Sales fell 12.3 percent and 2.4 percent in the Northeast and Midwest, respectively.

NAR Chief Economist Lawrence Yun cited the “unseasonably cold weather” as a potential reason for the decline in existing home sales in the Northeast and Midwest in February.

First-time buyers made 29 percent of sales in February, unchanged from January and down from 31 percent last year.

Existing home sales rates include completed transactions for single-family homes, townhomes, condominiums and co-ops.

Page 1 of 796
Next Page
Resource Book
Looking for a specific product or a company? Wood Floor Business has the only comprehensive database of the industry.
Learn More
Resource Book
Podcasts
All Things Wood Floor, created by Wood Floor Business magazine, talks to interesting wood flooring pros to share knowledge, stories and tips on everything to do with wood flooring, from installation, sanding and finishing to business management.
Learn More
Podcasts