Keller WIlliams Luxury Logo
Home » Existing-Home Sales Rise in February

Existing-Home Sales Rise in February

by | Mar 28, 2008 | Selling | 0 comments

How about some positive news about homes sales for a change. Here is the latest from the National Association of Realtors.

Sales of existing homes increased in February and remain within a fairly stable range, according to the NATIONAL ASSOCIATION OF REALTORS®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September.

Lawrence Yun, NAR chief economist, said the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he said. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year.”

The national median existing-home price for all housing types was $195,900 in February, down 8.2 percent from a year earlier when the median was $213,500. Because the slowdown in sales from a year ago is greater in high-cost areas, there is a downward pull to the national median with relatively fewer sales in higher priced markets.

Recent Posts

So, You Want a Place on the Ocean?!

So, You Want a Place on the Ocean?!

By Dan Polimino Of course you do! I was meeting with a client at a local eatery and he said to me, “It’s always been my dream to have a place in Hawai`i right on the ocean.” And why not? I mean, it’s one of the reasons why you would move to Hawai`i or own a second...

read more
September 2025 Featured Restaurant & Activity

September 2025 Featured Restaurant & Activity

Featured Activity: Atlantis Adventures Submarine Tour Discover the magic of Kona’s undersea world while diving over 100 feet beneath the sea in an eco-friendly, 48-passenger submarine. Learn about Kona’s marine mysteries in the air-conditioned comfort of this Coast...

read more
July 2025 Sales Statistics for the Big Island West Coast

July 2025 Sales Statistics for the Big Island West Coast

July real estate activity continued to be slow in the resorts along the Kona-Kohala Coast, with just a single home sale in Kūki`o and five condominium sales – two each in Mauna Lani Resort and Waikoloa Beach Resort and one at Kohanaiki. On the upside, these properties...

read more
June Market Statistics for the Kohala Coast

June Market Statistics for the Kohala Coast

Real estate activity along the Kona-Kohala Coast was quiet in June, with only a few condominium sales and no single-family home sales within the resort areas. The exception was Mauna Lani Resort, which was the bright spot with six condominium closings. Mauna Kea...

read more
Featured Big Island Restaurant & Activity for August

Featured Big Island Restaurant & Activity for August

Featured Activity: A Day Trip to the East Side – Explore ʻImiloa Astronomy Center Located on the University of Hawaiʻi-Hilo campus, ʻImiloa Astronomy Center is a must-visit destination for anyone curious about the stars, Hawaiian culture, and the art ofnavigation....

read more

Recent Listings

Call Now