Existing Home Sales Unexpectedly Drop In February

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

 

Existing Home Sales (Feb 2010 - Feb 2011)Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®.

On an annual basis, 4.88 million homes were sold in February -- the first time annualized home resales dropped below 5,000,000 since November 2010.

An "existing home" is one that's not considered new construction.

And it's not just sales volume that's down. Home inventory is higher, too. At the current pace of sales, the number of...

 

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Existing Home Sales Unexpectedly Drop In February

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