Existing-home sales surged 9.5% in February to a seasonally adjusted annual rate of 4.38 million, the largest monthly increase since February 2023, according to a new report from the National Association of Realtors. Sales declined 3.3% from the previous year. Other key findings from the report include:
- The median existing-home sales price elevated 5.7% from February 2023 to $384,500 – the eighth consecutive month of year-over-year price gains.