April 8, 2016
ACROSS THE U.S. – LOW SALES – LOW INVENTORY
- Although existing home sales for February were up 2.2% over the same period last year, they fell 7.1% month over month to a seasonally adjusted annual rate of 5.08 million.
- In the Northeast, existing home sales fell 17.1% but remain 5% above a year ago. The median price was $239,700 – 0.8% below a year ago.
- In the Midwest, existing home sales plunged 13.8% and remain the same as a year ago. The median price was $162,700 – up 6.3% from a year ago.
- In the South, existing home sales dropped 1.8% but remain 3.3% higher than a year ago. The median price was $186,400 – up 5% from a year ago.
- In the West, existing home sales fell 3.4% but remain 0.9% higher than a year ago. The Median price was $308,800 up 7% from a year ago.