Pending home sales, a measure of signed contracts on existing homes, fell a wider-than-expected 10.6% in February compared with January, according to the NAR. Sales were 0.5% lower year over year. There were just 1.03 million homes for sale at the end of February, a 29.5% drop compared with February 2020. That is the largest annual decline ever and the lowest supply on record.
Yesterday’s real estate news was filled with drops and declines, but around here we’re doing fine:
NSDCC March Sales – Preliminary
The median sales price rose 25% year-over-year!