by Calculated Risk on 3/18/2022 11:06:00 AM
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 6.02 million SAAR in February
When the local data was released, I highlighted the sharp increase in sales in Houston (up 25.6% year-over-year). From the Houston Association of REALTORS(R) (HAR): February Is a Strong Month for Houston Home Sales
In February 2022, the only region that showed a year-over-year increase was the South (an increase from the weak sales in 2021 due to the freeze). The other regions were down an average of 6.7% year-over-year compared to the 2.4% reported by the NAR for the entire country.
This graph shows existing home sales by month for 2021 and 2022.
Sales declined 2.3% year-over-year compared to January 2021. This was the seventh consecutive month with sales down year-over-year.
[and on inventory] According to the NAR, inventory increased to 0.87 million in February from 0.85 million in January. Inventory is now just above the record low.
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