February Home Sales Rose First Time in Six Months
Year over year for the tenth consecutive month housing inventory levels increased.
According to National Mortgage Professional, while they remain down 24.4% year over year, home sales in February increased 16.8% from January, according to a monthly report from RE/MAX.
The national real estate company said the nearly 17% jump was the largest month-over-month increase in 11 months and ended a five-month streak of declines that began in September.
In addition, the median sales price increased 0.6% from January to $385,000, ending a seven-month streak of price declines since hitting a peak of $426,000 in June 2022, RE/MAX said.