February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors.
Sales were up in the Midwest and South, offset by declines in the Northeast and West.
Total existing-home sales – which are completed transactions that include single-family homes, townhomes, condominiums and co-ops – slipped 0.9% to a seasonally adjusted annual rate of 4.59 million in February from an upwardly revised 4.63 million in January.
They are, however, 8.8 percent higher than the 4.22 million-unit level in February 2011.
