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Nation’s existing-home sales accelerated in February

National Association of Realtors News release

WASHINGTON, D.C. — Existinghome sales ascended in February, according to the National Association of Realtors. For both monthly and yearover-year sales, two major U.S. regions experienced growth, one region remained stable and the other registered a decline.

Total existing-home sales — completed transactions that include single-family homes, townhomes, condominiums and co-ops — progressed 4.2% from January to a seasonally adjusted annual rate of 4.26 million in February. Year-over-year, sales slid 1.2% (down from 4.31 million in February 2024).

“Homebuyers are slowly entering the market,” said NAR Chief Economist Lawrence Yun. “Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand.”

Total housing inventory registered at the end of February was 1.24 million units, up 5.1% from January and 17% from one year ago (1.06 million). Unsold inventory sits at a 3.5-month supply at the current sales pace, identical to January and up from 3 months in February 2024.

“On a technical note, raw sales in February were down 5.2% from last year, which was a leap year with one extra day of business,” Yun added. “However, a er adjusting for this e ect, combined with the winter seasonal factors, the momentum for home sales is ashing encouraging signs.”

The median existing-home price for all housing types in February was $398,400, up 3.8% from one year ago ($383,800). All four U.S. regions registered price increases.

“Each one percentage point gain in home price translates into an approximately $350 billion increase in housing equity for American property owners,” Yun said. “That means a gain of nearly $1.3 trillion in home value

appreciation at a time when the current stock market is undergoing a correction. Moreover, the ongoing housing shortage, coupled with historically low mortgage default rates, implies a solid foundation for home values.”

Con dence index

According to the monthly Realtors Con dence Index, properties typically remained on the market for 42 days in February, up from 41 days in January and 38 days in February 2024.

First-time buyers were responsible for 31% of sales in February, up from 28% in January 2025 and 26% in February 2024.

NAR’s 2024 Pro le of Home Buyers and Sellers — released November 2024 — found that the annual share of rsttime buyers was 24%, the lowest ever recorded.

Cash sales accounted for 32% of transactions in February, up from 29% in January but down from 33% in February 2024.

Individual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in February, down from 17% in January and 21% from February 2024.

Distressed sales — foreclosures and short sales — represented 3% of sales in February, unchanged from January and the previous year.

Mortgage rates

According to Freddie Mac, the 30-year xed-rate mortgage averaged 6.65% as of March 13. That’s up from 6.63% one week ago but down from 6.74% one year ago.

Single-family and condo/co-op sales

Single-family home sales scaled 5.7% to a seasonally adjusted annual rate of 3.89 million in February, down 0.3% from the prior year. The median existing single-

family home price was $402,500 in February, up 3.7% from February 2024. Existing condominium and co-op sales waned 9.8% in February to a seasonally adjusted annual rate of 370,000 units, also down 9.8% from one year ago. The median existing condo price was $355,100 in February, up 3.5% from the previous year ($343,000).

Regional breakdown

In February, existing-home sales in the Northeast decreased 2.0% from January to an annual rate of 500,000, up 4.2% from February 2024. The median price in the Northeast was $464,300, up 10.4% from one year earlier.

In the Midwest, existing-home sales were unchanged in February at an annual rate of 1 million, up 1% from the prior year. The median price in the Midwest was $295,500, up 5.8% from February 2024.

Existing-home sales in the South bounced 4.4% from January to an annual rate of 1.91 million in February, down 4% from one year before. The median price in the South was $358,800, up 1.9% from last year.

In the West, existing-home sales jumped 13.3% in February to an annual rate of 850,000, identical to a year ago. The median price in the West was $614,600, up 3.6% from February 2024.

Spring into lawn and garden care

Family Features

If cooler weather has you longing for sunny days outdoors, take heart. Once spring rolls around, you can prepare your yard for months of warm-weather enjoyment with these tips.

1. Clear the yard: Remove any leaves, rocks or sticks that may have accumulated then cut the grass as short as you can.

2. Dethatch: Use a thatching rake to remove dead roots and grass.

3. Treat weeds: Apply herbicide to treat weed-infested areas. Allow the weed killer to work for about a week then rake to remove dead weeds.

4. Add seed and fertilizer: Depending on your lawn’s needs, overseed or spot seed to ll in thin spots. Use a grass variety that matches your climate for best results. Select and apply fertilizer consistent with your grass type then water thoroughly.

5. Clear garden beds of debris: Remove leaves and other matter that piled up in your garden during the cooler months. Gently turn the soil and work in fresh fertilizer.

6. Start planting: Early spring is the time to divide perennials and plant hardier vegetables, such as onions and potatoes. You can also start indoor seeds, if necessary, and move plants outdoors when the weather permits.

Getting some of your lawn and garden care underway now can make those warmer, sunny days feel closer in no time. Find more seasonal tips for prepping your yard at eLivingtoday.com.

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$1,454,885 5212 Wild Oak Ln 4 5 (4 1) 3371 0.897 225016811

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$495,000 5401 Mayfair Ln 3 2 (2 0) 1600 1.6 223078845

$495,000 6180 Grizzly Flat Rd 3 3 (2 1) 2389 2.61 225018732

$499,000 3092 Sand Ridge Rd 4 2 (2 0) 2178 8 225016936

$510,000 5307 Pine Ridge Dr 4 3 (3 0) 3276 0.83 225018254

$540,000 7003 Pioneer Dr 4 3 (2 1) 2381 0.25 224089578

$549,000 3980 Sand Ridge Rd 3 2 (2 0) 1704 5.25 225004477

$550,000 5600 Upper Siesta Ln 3 3 (2 1) 2359 0.63 225022481

$599,950 7621 Fairplay Rd 2 1 (1 0) 2048 27.58 224117949

$619,000 6681 Klare Rd 3 3 (2 1) 1965 10.6 225016774

$625,000 5251 Cosumnes Mine Rd 3 2 (2 0) 2249 10 225019139

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$649,000 7695-7697 Perry Creek Rd 3 2 (2 0) 2104 5.08 225020207

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$699,999 8161 Boondock Trl 1 4 (3 1) 2285 4.82 225013199

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Greenstone, GolD Hill West

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Placerville ~ $1,189,000

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