Home Prices Show Solid Growth, Existing Home Sales Slip
Home prices continued to show solid growth in most of the country due to limited inventory conditions, but rising prices and severe winter weather caused existing-home sales to slip in February, according to the National Association of Realtors (NAR).
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined .4% to a seasonally adjusted annual rate of 4.60 million in February from 4.62 million in January, and 7.1% below the 4.95 million-unit level in February 2013. February’s pace of sales was the lowest since July 2012, when it stood at 4.59 million.