Home Sales Report February Of 2023

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

On March 21, 2023, National Association of Realtors® (NAR) reported that nationwide existing home sales gained 14.5% to annual rate of 4.58 million homes in February of 2023 from  million homes in January of 2023, but dropped 22.6% from 5.92 million homes from February of 2022.

There were 980,00 homes supplies of available inventory in February of 2023, unchanged 0.0% from January of 2023, but jumped 15.3% from 850,000 million homes in February of 2022; while, there were 2.6 months available inventory in February of 2023 decreased from January of 2023, but increased from 1.7 months in February of 2022.

On average it took 34 days to sell a home in February of 2023, grew from 33 days in January of 2023, and rose from 18 days in February 2022.

First time buyers acquired 27.0% of homes in February of 2023, lower from 31.0% in January of 2023, and down from 29.0% in February of 2022.

Investors purchased 18.0% of homes in February of 2023, higher from 29.0% in January of 2023, and increased from 16.0% in February of 2022.

Cash buyers purchased 28.0% of all sales in February of 2023, declined from 29.0% in January of 2023, but up from 25.0% in February of 2022.

Lawrence Yun, NAR chief economist, stated "Consequently, multiple offers are returning on a good number of properties."

For more complete information, on NAR's February 2023 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

Comments (6)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

As always this is fascinating information to share with our sellers and buyers. Thanks

Mar 22, 2023 06:27 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello John and great information to pass on to us here in the Rain.  Make it a great day!

 

Mar 22, 2023 10:37 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Lise Howe you are welcome, and glad as always you find this report fascinating information to share with sellers and buyers. Thanks for the comment.

Mar 22, 2023 01:06 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Will Hamm glad you find this report very informative to pass on to everyone here in the Rain. Thank you, and make it a great day too. Thanks for the comment.

Mar 22, 2023 01:07 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Mar 23, 2023 07:48 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Kristin Johnston - REALTOR® you are welcome, and glad you find the report very informative. Enjoy your day too! Thanks for the comment.

Mar 23, 2023 11:38 AM