Homes Sales on the Decline

There was a decline in home sales last month.

FOX’s Dave Anthony reports:

Fewer Americans are packing up, getting ready to move. Previously-owned home sales fell nearly four percent last month, though the number of properties sold was higher than February of last year.

The National Association of Realtors also reports the median sales price rose almost eight percent from a year ago, driven up by demand because inventory is low and new listings are being snatched up quickly.

Mortgage rates are higher. A 30-year fixed loan is now averaging. 4.3 percent compared to 3.7 last March.

The report covers single-family homes, condos and co-ops and townhouses and their resales dwarf those of new homes on the market more than nine to one.

Dave Anthony, FOX News.