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NAR: Existing-home sales stumble in February

After starting the year at the fastest pace in almost a decade, existing-home sales slid in February but remained above year-ago levels both nationally and in all major regions, according to the National Association of REALTORS (NAR).

Total existing-home sales retreated 3.7 percent to a seasonally adjusted annual rate of 5.48 million in February from 5.69 million in January. Despite last month’s decline, February’s sales pace is still 5.4 percent above a year ago. 

February existing-home sales in the Northeast slumped 13.8 percent to an annual rate of 690,000, but are still 1.5 percent above a year ago. The median price in the Northeast was $250,000, which is 4.1 percent above February 2016.

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