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In February, home sales in the USA far exceeded expectations, with prices reaching a new high and inventory being released.
In February, the USA's total sales of existing homes were annualized at 4.26 million units, significantly better than the expected 3.95 million units; existing home sales increased by 4.2% month-on-month. The median price of existing homes in February rose by 3.8% year-on-year, reaching 0.3984 million dollars, setting a record for February since records began. By the end of February, the inventory of homes for sale was 1.24 million units, the highest level for February since 2020, representing a 17% increase compared to February last year.
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