Steel Markets
March 23, 2017
Existing Home Sales Retreat 3.7% in February
Written by Sandy Williams
Existing home sales slowed in February, declining by 3.7 percent from the previous month to a seasonally adjusted annual rate of 5.84 million. According to the National Association of Realtors, the rate continues to exceed year ago levels and was 5.4 percent above the sales pace reported in February 2016.
The median sale price for an existing home grew 7.7 percent from last year to $228,400. The price increase was the fastest in just over a year and was the 60th consecutive year-over-year gain.
