Home Sales Surged In February
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The real estate market appears to be rebounding after a drop in mortgage rates.
Sales of existing homes surged by 14.5% in the month of February, according to the National Association of Realtors. That breaks a streak of 12 straight months of declining sales.
However, year-over-year sales are still down – sales dropped 22.6% from February 2022, while homes are staying on the market for nearly two weeks longer on average.
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