February Existing Home Sales Slip

mandy • March 21, 2016

After hitting six-month highs in January, February Existing Home Sales slipped by 7.1 percent from the previous month to an annual rate of 5.08 million, below the 5.37 million expected. The National Association of REALTORS® (NAR) said that a low supply of existing homes and steady price growth were the reasons behind the decline. Sales are up 2.2 percent from February 2015.



Existing Home Sales are completed transactions that include single-family homes, townhomes, condominiums and co-ops.

Lawrence Yun, NAR chief economist said, “The lull in contract signings in January from the large East Coast blizzard, along with the slump in the stock market, may have played a role in February’s lack of closings. However, the main issue continues to be a supply and affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”

A large house with a blue roof and a blue door is lit up at sunset.

Daily Financial Blog: Tuesday – April 26

By mandy • April 26, 2016
Home price gains continued in February, though moderation has been seen in some regions.
An aerial view of a residential area with lots of houses and trees.

March New Home Sales Decline

By mandy • April 25, 2016
A sharp decline in the West sent New Home Sales lower by 1.5 percent in March.
A living room filled with furniture and a television.

Home Prices Post 6.8% Annual Gain

By mandy • April 5, 2016
CoreLogic reports that home prices, including distressed sales, rose by 6.8 percent from February 2015 to February 2016.
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