Steel Markets
March 23, 2020
Housing Market Robust in February
Written by Sandy Williams
Existing-home sales jumped 6.5 percent in February, with all regions seeing higher sales except the Northeast, reports the National Association of Realtors. Sales rose to a seasonally adjusted annual rate of 5.77 million in February, a 7.2 percent gain from a year ago.
“February’s sales of over 5 million homes were the strongest since February 2007,” said NAR Chief Economist Lawrence Yun. “I would attribute that to the incredibly low mortgage rates and the steady release of a sizable pent-up housing demand that was built over recent years.”
