【NAR】Existing-Home Sales Fade 7.2% in February

• In February, existing-home sales fell to a seasonally adjusted annual rate of 6.02 million. Sales were down 7.2% from the prior month and 2.4% from one year ago.
• The inventory of unsold existing homes slightly increased to 870,000 as of the end of February, equivalent to 1.7 months of supply at the current monthly sales pace.
• The median existing-home sales price rose to $357,300, up 15.0% from one year ago. This marks 120 consecutive months of year-over-year price increases, the longest-running streak on record.

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