Friday, March 25, 2005

National Association of Realtors® (NAR) reports on February 2005 home sales and prices

The NAR reports that existing home sales have declined and prices have risen.

The report states "Total existing-home sales, including single-family, townhomes, condominiums, and co-ops, were down 0.4 percent in February, to a seasonally adjusted annual rate of 6.79 million from an upwardly revised pace of 6.82 million in January. Last month's sales activity was 6.1 percent above the 6.40 million-unit pace in February 2004."

As to prices, the National Association of Realtors® states that "The national median existing-home price for all housing types was $191,000 in February, up 11.0 percent from February 2004 when the median price was $172,000. The median is a typical market price where half of the homes sold for more and half sold for less."

To read the online article, go here.

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