A quick look at the pending and existing home sales in the United States in February 2022.
Data from the National Association of Realtors®
- Contract signings fell for the fourth consecutive month, down -4.1% in February from January.
- Month-over-month, contract signings were down across all regions, except the Northeast.
- Contract signings fell from the previous year for the ninth consecutive month, falling by -5.4%, with pending sales down across all regions.
- In February, existing-home sales fell to a seasonally adjusted annual rate of 6.02 million. Sales were down -7.2% from the prior month and -2.4% from one year ago.
- The inventory of unsold existing homes slightly increased to 870,000 as of the end of February, equivalent to 1.7 months of supply at the current monthly sales pace.
- The median existing-home sales price rose to $357,300, up +15.0% from one year ago. This marks 120 consecutive months of year-over-year price increases, the longest-running streak on record.