Home sales fell far more than expected in February, as mortgage rates rose and supply remained tight

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Increasing prices and rising mortgage rates result in a decrease in home sales sales of existing homes dropped seven percent in February from January the national association of realtors says sales declined two point four percent from February of last year as the median home price jumped fifteen percent from last year at this time two three hundred fifty seven thousand dollars home prices are surging as potential buyers compete for relatively few homes available and according to mortgage buyer Freddie Mac the average rate for the benchmark thirty year mortgage rose above four percent this week for the first time since may twenty nineteen I'm

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