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Existing Home Sales Rise 14.5% in February

  • March 22nd 2023

by UrbanTurf Staff

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Existing home sales bounced back in February. 

Sales rose nearly 15% month-over-month in the U.S. in February, according to data released this week by the National Association of Realtors (NAR). It was the first monthly gain in 12 months and the largest increase since July 2020.

"Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," said NAR Chief Economist Lawrence Yun. "Moreover, we're seeing stronger sales gains in areas where home prices are decreasing and the local economies are adding jobs."

The closed sales recorded in February likely went under contract in late December and early January when mortgage were lower.

See other articles related to: existing home sales

This article originally published at https://dc.urbanturf.com/articles/blog/existing_home_sales_rise_145_in_february/20804.

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