US Existing-Home Sales Rise, Helped by Decline in Mortgage Rates

Existing-home sales rose 1.7% month-over-month to a 4.09 million annualized rate in February, with the prior month revised higher, according to NAR data. The unexpected uptick signals modest resilience in housing demand but is unlikely to materially change broader market or policy expectations absent a sustained trend.

Analysis

Existing-home sales rose 1.7% month-over-month to a 4.09 million annualized rate in February, with the prior month revised higher, according to NAR data. The unexpected uptick signals modest resilience in housing demand but is unlikely to materially change broader market or policy expectations absent a sustained trend.