Unlike last February, this February experienced increased home sales, but with only a moderate rise in prices, according to the March RE/MAX National Housing Report. Home sales in February rose 7.1% from January and 2.2% from February 2014. Sales through the fall and winter months held ground, as four of the last six months saw higher sales than the same month in the previous year. The Median Sales Price in February rose 5.5% compared with a year-over-year increase of 11.6% in February 2014. The inventory of homes for sale was 11.9% lower than one year ago. At the current rate of sales, the corresponding Months Supply of inventory fell to 4.7 on a scale where 6.0 indicates a market balanced equally between buyers and sellers.
RE/MAX National Housing Report: February Home Sales and Prices Move Higher
