Home Sales Up Amid Affordability Boost
Existing home sales rose in February due to improved affordability from declining mortgage rates and modest price growth [https://bloomberg.com/news/articles/2026-03-10/us-existing-home-sales-increase-as-affordability-improves].
The National Association of Realtors (NAR) reported that existing home sales climbed 3.1% to a seasonally adjusted annual rate of 4.38 million in February. This increase suggests a positive response to the slight easing of financial conditions for prospective buyers. The median existing-house price rose 5.7% from a year ago to $384,500. While prices are still elevated, the slower growth rate compared to previous months offered some relief to buyers. Regionally, sales performance varied, with the West experiencing the largest gain, up 11.6% from the prior month. The Northeast, Midwest, and South also saw increases, indicating broad, though not uniform, improvement across the country.
