Home Sales Fell Far More Than Expected In February, As Mortgage Rates Rose And Supply Remained Tight
Sales of previously owned homes fell 7.2% month to month in February to a seasonally adjusted annualized rate of 6.02 million units, according to the National Association of Realtors. That significantly missed analysts’ expectations of 6.13 million units. Sales were 2.4% lower compared with the same month a year ago. Rising mortgage rates likely played a role in the...