Home Sales Report February 2020

By
Real Estate Agent with Berkshire Hathaway Home Services Crest CDRE #01044712

On March 20, 2020, National Association of Realtors® (NAR) reported that nationwide existing home sales higher 6.5% to annual rate of 6.5 million homes in February of 2020 from 5.46 million homes in January of 2020, and rose 7.2% from 5.38 million homes from February of 2019.

There were 1.47 million homes supplies of available inventory in February of 2019, gained 5.0% from January of 2020, but decreased 9.8% from 1.63 million homes in February of 2019; while, there were 3.1 months available inventory in February of 2020 unchanged from to 3.1 months in January of 2020, but declined from 3.6 months in February of 2019.

On average it took 36 days to sell a home in February of 2020, decreased from 43 days in January of 2020, and dropped from 44 days in February 2019.
First time buyers acquired 32.0% of homes in February of 2020, unchanged from 32.0% in January of 2020, and same as 32.0% in February of 2019.
Cash buyers purchased 20.0% of all sales in February of 2020, down from 21.0% in January of 2020, and fell from 23.0% in February of 2019.
Investors purchased 17.0% of homes in February of 2020, unchanged from 17.0% in January of 2020, but higher from 16.0% in February of 2019, according to NAR on March 20, 2019.

Lawrence Yun, NAR chief economist, stated “I would attribute that to the incredibly low mortgage rates and the steady release of a sizable pent-up housing demand that was built over recent years.”

For more complete information, on NAR's February 2020 existing home sales report, please click HERE

Posted by

John Pusa

Real estate agent, Glendale, CA

Better way to buy and sell real estate

Berkshire Hathaway Home Services Crest

Office (818) 441-8881

Mobile (818) 441-8881

4005 Foothill Blvd.

La Crescenta, CA. 91214

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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello John and Thank you for sharing the NAR report with us here in the Rain.  Hope you are staying safe.

 

Mar 24, 2020 07:43 AM #1
Rainmaker
2,946,909
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hell Will Hamm you are welcome, and glad you find the NAR report very helpful. Hope you are staying safe too. Thanks for the comment.

Mar 24, 2020 02:02 PM #2
Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update John, all the best to you as you get many of these properties listed and sold.

Sally

Mar 24, 2020 11:30 PM #3
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

You are welcome Sally Crane glad you find the report very helpful. All the best to you list and sell many properties in your area too. Thanks for the comment.

Mar 25, 2020 03:20 PM #4
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Rainmaker
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John Pusa

Your All Time Realtor With Exceptional Service
I will be very happy to assist you with your real estate needs.
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