Home Prices Jump & Listings Plummet in February
Realtor.com released its monthly housing report that shows the red hot housing market stayed the course in February (Realtor.com)
– The median national home listing price was $353,000 in February. The 13.7% appreciation was actually down from the 15.4% we saw in January.
– The inventory of homes for sale decreased by 48.6% compared to the same time last year. This was actually a higher rate of decline compared to January when the inventory fell 42.6%.
Even with rising prices, homes sat on the market for fewer days than they did last year. The typical home spent 70 days on the market this February, which is 11 days less than last year.