Existing Home Sales Fell In February

Mar 23, 2017

Sales of existing homes in February fell on the local, state and national levels.

Jim Letizia has the numbers.

The National Association of Realtors says sales of existing homes fell 3.7 percent last month to a seasonally adjusted annual rate of 5.48 million. The decline follows a January surge to the fastest pace in a decade. Over the past year, sales have risen 5.4 percent. The association says the supply of homes on the market has fallen 6.4 percent over the past year to 1.75 million, slightly higher than January's all-time low. The Ohio Association of Realtors says sales statewide fell 1.1 percent from January to a seasonally adjusted annual rate of nearly 149 thousand. The Columbus Realtors trade association says more than 25 hundred existing homes were sold in its multi-county region in February, down 3.6 percent from January. The association says housing inventories in the area remain low. Nationally, the median sale price fell by one thousand to 228 thousand dollars. The statewide average home price of 152 thousand dollars is two thousand less than in January.  Locally, the average sale price fell by nearly 5 thousand to 191 thousand dollars.