Overview
- Sales rose 1.7% to a 4.09 million annualized pace, topping forecasts, with January revised up to 4.02 million.
- NAR’s Housing Affordability Index reached 117.6, the best since March 2022, as the average 30‑year rate hovered near 6.05%.
- Inventory increased to 1.29 million homes, equal to 3.8 months of supply, yet remains tight by historical standards.
- The median price edged up 0.3% year over year to $398,000, and first‑time buyers’ share climbed to 34%.
- Regional results diverged: sales fell 6.0% in the Northeast and jumped 8.2% in the West, with smaller gains in the South and Midwest as early‑March jumps in oil and Treasury yields threaten further mortgage‑rate relief.