Existing-home sales rose in February, according to the National Association of Realtors. Month-over-month, existing-home sales grew by 4.2%, reaching a seasonally adjusted annual rate of 4.26 million. However, compared with February 2024, sales declined by 1.2% from 4.31 million.
Housing inventory also grew in February, with 1.24 million units available at the end of the month—5.1% higher than in January and 17% above 2024’s 1.06 million. The supply of unsold homes remained steady at 3.5 months, the same as January but up from three months in February 2024.
"Home buyers are slowly entering the market," said NAR Chief Economist Lawrence Yun. "Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand." Read more
