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Existing Home Sales Pop in February

  • March 21st

by UrbanTurf Staff

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Existing home sales shot up in February. 

Sales rose nearly 10% month-over-month in the U.S. last month, according to data released on Thursday by the National Association of Realtors (NAR). It was the largest monthly gain in 12 months.

“Additional housing supply is helping to satisfy market demand,” said NAR Chief Economist Lawrence Yun. “Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices.”

One out of four homes sold in February went to a first-time buyer, while investors represented 21% of sales. 

See other articles related to: existing home sales

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/existing_home_sales_pop_in_february/22104.

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