The national median price for an existing home dropped from February 2022 to last month, marking the first year-over-year decrease in prices since February 2012.
Properties typically remained on the market for 34 days in February, up from 33 days in January and 18 days in February 2022. Fifty-seven percent of homes sold in February were on the market for less than a month.
All-cash sales accounted for 28% of transactions in February, down from 29% in January but up from 25% in February 2022. Distressed sales – foreclosures and short sales – represented 2% of sales in February, nearly identical to last month and one year ago.averaged 6.60% as of March 16. That’s down from 6.73% from the previous week but up from 4.16% one year ago.Single-family home sales soared to a seasonally adjusted annual rate of 4.14 million in February, up 15.3% from 3.59 million in January but down 21.4% from the previous year. The median existing single-family home price was $367,500 in February, down 0.
In the Midwest, existing home sales grew 13.5% from the previous month to an annual rate of 1.09 million in February, declining 18.7% from one year ago. The median price in the Midwest was $261,200, up 5.0% from February 2022.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US: Existing Home Sales rise by 14.5% in February vs. 0% expectedExisting Home Sales in the US rose by 14.5% in February to an adjusted annual rate of 4.58 million, the National Association of Realtors (NAR) reporte
Read more »
U.S. existing-home sales rise for the first time in 13 months, surging 14.5% in FebruaryExisting-home sales rose to a rate of 4.58 million in February, the National Association of Realtors said.
Read more »
End of Football Season Sees Michigan's February Sports Betting Handle Drop From January to FebruaryMichigan feels the effects of no NFL or college football as its sports betting handle drops by 27% from January's numbers.
Read more »
2nd death reported at UH a month after student found dead in February, university saysThe school announced all classes and activities would be canceled at Agnes Arnold, and office buildings would be closed for the remainder of Monday. Officials said there is no threat to campus safety.
Read more »
Lower mortgage rates boost US home sales in FebruaryU.S. existing home sales rebounded more than expected in February as lower mortgage rates and the first year-on-year decrease in prices in 11 years pulled buyers back into the market, further evidence that the housing market was stabilizing at low levels.
Read more »
Home Prices Fell in February for First Time in 11 YearsU.S. existing-home prices fell from a year earlier in February for the first time in 11 years.
Read more »