Existing-home sales declined in February, following two prior months of gains, according to the National Association of Realtors®. Month-over-month, only one major region saw an increase in February, but all four U.S. regions recorded year-over-year gains. Total existing-home sales,1 [video]https://www.nar.realtor/existing-home-sales[/video], completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 6.6% from January to a seasonally-adjusted annual rate of 6.22 million in February. Sales in total climbed year-over-year, up 9.1% from a year ago (5.70 million in February ... (full story)

Closed sales of existing homes in February dropped a larger-than-expected 6.6% compared with January, according to the National Association of Realtors. That put them at a seasonally adjusted, annualized rate of 6.22 million units, which was 9.1% higher compared with February 2020. Despite being on the cusp of the historically busy spring housing market, homeowners are not listing their properties for sale at the pace they normally would this time of year. The supply of homes for sale fell 29.5% year over year, the largest annual decline ever, to 1.03 million homes. At the current sales pace, it would take two months ... (full story)