US existing home sales fall 6.6% in February: survey

Washington (AFP) – Sales of existing homes in the United States fell 6.6 percent in February, the National Association of Realtors (NAR) said on Monday, as tightening inventory pushed prices up and kept buyers away. Last month’s seasonally adjusted rate of 6.22 million annualized was worse than analysts expected, yet 9.1 percent higher than February 2020, after the US housing market boomed even as the Covid-19 pandemic caused wider economic malaise. “Despite the drop in home sales for February — which I would attribute to historically-low inventory — the market is still outperforming pre-pan…

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