US: Existing Home Sales fall by 7.2% in February

Joel Frank Independent Analyst

US Existing Home Sales fell to 6.02M in February from 6.49M in January, larger than the expected drop to 6.10M, according to data released by the National Association of Realtors. That marked a 7.2% MoM drop versus January. The total inventory of homes for sale was 870K, which equates to roughly 1.7 months worth of homes, the data showed. The median price of homes sold was $357,300, 15% higher versus February 2021.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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