The existing-home sales took a drastic increase in February according to the National Association of Realtors®. After a slight decrease in January, the sales climbed 6.5%, or 5.77 million, into February. Sales are also up 7.2% from February 2019. NAR’s chief economist, Lawrence Yun stated that “February’s sales of over 5 million homes were the strongest since February 2007.”
The existing-home sales were not the only ones to increase. The median existing-home price rose 8.0% from February 2019 ($250,100) to February 2020 ($270,100).
For more information on Existing-Home Sales for February 2020: Read the Original Article Here: Existing-Home Sales Jump 6.5% in February
Copyright ©2020 “Existing-Home Sales Jump 6.5% in February” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. March 27, 2020, https://www.nar.realtor/newsroom/existing-home-sales-jump-6-5-in-february