Community News February Existing Home Sales Jump 118

Dated: March 26 2019

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Existing-home sales bounced back from a tepid January to record the largest month-over-month gain since December 2015, according to the National Association of REALTORS®. February sales rose 11.8% to a seasonally adjusted annual rate of 5.51 million. The national median sales price in February rose 3.6% from the same period a year ago. Inventory also rose slightly.

Lawrence Yun, NAR's chief economist, credited the increase to a combination of lower mortgage rates, increasing inventory, rising income, and higher consumer confidence. 

credit to: National Association of REALTORS and Lawrence Yun, NAR's chief economist.

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