The seasonally adjusted pace of existing-home sales in the U.S. dropped 7.1 percent in February to an annual rate of 5.08 million. And while the pace remains 2.2 percent higher versus the same time last year, that’s down from 11.0 percent higher on a year-over-year basis in January.

At the same time, the median sale price dropped 1.4 percent from $213,800 in January to $210,800 in February. And while the median remains 4.4 percent higher on a year-over-year basis, that’s down from 8.2 percent higher on a year-over-year basis in January and 10.8 percent below the record $236,400 median price set in June.

In terms of inventory, the number of unsold homes on the market across the country increased 3.3 percent to 1.88 million homes at the end of February, which is 1.1 percent lower versus the same time last year.

And the pace of existing-home sales in the West dropped 3.4 percent to an annual rate of 1.13 million sales in February, which remains a nominal 0.9 percent higher versus February 2015.

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