The report issued by CABR states “February home sales were strong, but came up short, down – 3.76 % compared to February a year ago.”

Highlights:

• The average home price climbed to $180,372 compared to $160,839 a year earlier, a +12.14 % increase.
• The inventory of homes for sale, as of February 28, continued its year-over-year declining trend to 4,815 from 6,520 a year ago, down – 26.15 %.
• Locally home mortgage rates in February averaged 3.99% for a 30-year fixed rate loan-compared to 3.82% a year ago.
• Nationally, February home sales were down – 3.7 % from January on a seasonally adjusted basis, but were up + 5.4 % from February 2016.
• Actual numbers below-

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