Existing-home sales tumble as tight inventory chokes housing

• March 22, 2017
• realestatelife
• Business & Markets, Real Estate Finance

Sales in February were still 5.4% higher compared with a year ago, but the supply situation has worsened. Inventory was 6.4% lower than in February 2016. Meanwhile, the median home price rose 7.7% compared with a year ago to $228,400.