US existing home sales slip

Sales of existing homes in the United States slipped 3.7 per cent in February after reaching their fastest pace for a decade in January.

However, the National Association of Realtors reports that sales were 5.4 per cent above the level of February 2016 with a seasonally-adjusted annual rate of 5.48 million.

Foot traffic reported by real estate agents is up compared to a year ago but tight inventory means sales are happening quickly, leaving buyers with limited choices and rising prices.

The median existing price for all home types was up 7.7 per cent year-over-year to $228,400.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?