Comments on February Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 5.51 million in February A few key points: 1) Seasonally February is one of the weakest months of the year for existing home sales (See Not Seasonally Adjusted NSA graph below).  Since existing home sales are counted at closing, these are properties that usually went under contract during the holidays or in early January.   So I wouldn't read too much into the pickup in February.   Sales will be stronger seasonally over the next several months.  The headline number was not a surprise (see note 3), and the......(read more)

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