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Economic Buzz: US existing home sales surge 4.2% in February
21-Mar-2025 08:16
After reporting a sharp pullback by U.S. existing home sales in the previous month, the National Association of Realtors released a report on Thursday showing existing home sales unexpectedly rebounded in the month of February.

NAR said existing home sales surged by 4.2 percent to an annual rate of 4.26 million in February after tumbling by 4.7 percent to a revised rate of 4.09 million in January.

The report said housing inventory at the end of February totaled 1.24 million units, up 5.1 percent from 1.18 million units in January and up 17 percent from 1.06 million units a year ago.

The unsold inventory represents 3.5 months of supply at the current sales pace, unchanged from January but up from 3.0 months in February 2024.

NAR also said the median existing home price was $398,400 in February, up 3.8 percent from $383,800 in the same month a year ago.

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