US Existing-Home Sales Rise 4.2% in February

On Thursday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—increased 4.2% to a seasonally adjusted annual rate of 4.26 million in February. However, year-over-year, sales declined 1.2% from 4.31 million in February 2024.

On both a monthly an annual basis, two regions experienced growth, one region remained stable, and the other registered a decline.

Total housing inventory registered at the end of February was 1.24 million units, up 5.1% from January and 17% from one year ago (1.06 million). Unsold inventory sits at a 3.5-month supply at the current sales pace, identical to January and up from 3.0 months in February 2024.

The median existing-home price for all housing types was $398,400, up 3.8% from one year ago ($383,800). All four regions registered price increases.

According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 42 days in February, up from 41 days in January and 38 days in February 2024.