By Jann Swanson
Posted To: MND NewsWire
Short supplies of existing home inventory continued to hold back sales in February the National Association of Realtors® (NAR) said today, but contributed to the fastest annual gain in home prices in a year. Weather was also a factor, with lackluster sales in the snow-plagued Northeast offsetting gains in Sunbelt states. Nationwide sales of existing single-family homes, townhomes, condominiums, and co-ops rose 1.2 percent to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales were 4.7 percent higher than in February 2014, the fifth consecutive month that year-over-year sales increased. Single-family home sales increased 1.4 percent, from a seasonally adjusted rate of 4.28 million in January to 4.34 million. This was 5.9 percent higher than the…(read more)
Via:: Inventory Hampering Home Sales and Pushing Prices Higher
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