Existing-Home Sales Surge 14.5% in February

The National Association of Realtors is reporting that existing home sales were up 14.5% in February to a seasonally-adjusted annual rate of 4.58 million (down 22.6% year over year). Total housing inventory at the end of February was 980k units, the same as January but up 15.3% from one year ago. Unsold inventory sits at a 2.6-month supply at the current sales rate with properties remaining on the market for around 34 days. The median existing-home price for all housing types in January was $363k, down 0.2% from one year ago. Continue reading HERE...