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【CNBC】February home sales jump to highest in over a decade, but big drop expected as coronavirus injects uncertainty

【CNBC】February home sales jump to highest in over a decade, but big drop expected as coronavirus injects uncertainty

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  • Sales of existing home in February jumped  6.5% month-to-month to a seasonally adjusted annualized rate of 5.77  million units, according to the National Association of Realtors. That is the highest monthly pace in 13 years. Sales were up 7.2% year over year.
  • The inventory of homes for sale fell 9.8% annually to 1.47 million. That represents a 3.1 month-supply, which is incredibly tight.
  • Low supply pushed the median home price in February up 8% annually to $270,100.

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