The pace of seasonally adjusted existing-home sales in the U.S. slipped 0.9 percent from an upwardly revised 4.63 million in January to a 4.59 million pace in February, up 8.8 percent from the 4.22 million unit pace recorded in February 2011.
Total housing inventory at the end of February rose 4.3 percent to 2.43 million existing homes actively on the market, a 6.4 month supply, up from a revised 6.0 month supply in January but versus an 8.6 month supply in February 2011.
The median sale price for existing-homes ticked up 0.3 percent in February to $156,600 as distressed sales accounted for 34 percent of sales volume, down one point from last month, down five points year-over-year.
Existing-home sales in the west declined 3.2 percent from January to February, up 6.1 percent year-over-year with a median sales price that’s up 3.1 percent year-over-year.
∙ Existing U.S. Sales Pace Up As Supply Drops And Median Does As Well [SocketSite]
∙ February Existing-Home Sales Slip But Up Year-Over-Year [realtor.org]