Sales of existing homes fell sharply in February after two
months of modest gains. The National Association of Realtors® said pre-owned
single-family houses, townhouses, condominiums, and cooperative apartments sold
at a seasonally adjusted annual rate of 6.23 million units. This was down 6.6
percent from January’s sales rate of 6,660,000 units. Sales remain 9.1 percent
higher than the 5.70 million unit rate posted in February 2020. 

Single-family home
sales were also down 6.6 percent to an annual rate of 5.52 million from 5.91
million in January and condominium and co-op sales declined by 6.7 percent to
700,000 units. Sales of both housing types remained well above their February
2020 levels, single-family sales by 8.0 percent while condo/co-op sales were 18.6
percent higher.ercent
to $493,300.

…(read more)

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