February Existing Home Sales Decline following Sustained Gains

By Tom Branch, on March 24th, 2011

WASHINGTON (March 21, 2011) – Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®. 

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010.

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Source: National Association of REALTORS®

About Tom Branch

Tom Branch has written 597 posts in this blog.


Have you ever just met someone, but felt you like you'd known him for years? That's what most people experience with Tom. He has a knack for making folks feel right at home. After 21 years in the Air Force, loyalty and honesty are the foundation of everything Tom does. In addition to being a Texas Real Estate Broker, Tom is a Certified Distressed Property Expert (CDPE) and a Short Sales & Foreclosure Resource (SFR).

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1 comment to February Existing Home Sales Decline following Sustained Gains

  • Tom Branch
    March 24, 2011 at 7:29 am

    One month does not make a trend! We’re seeing robust activity in both new and existing home sales in the greater Dallas area. The decrease in February may just be reflective of the December holidays since real estate closings typically take 45 to 60 days to happen.

    Tom

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