House Prices Drop For First Time In Over A Decade
View Source | March 21, 2023 2:11 pm
- Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors.
- It was the first monthly gain in 12 months and the largest increase since July 2020, just after the start of the Covid-19 pandemic.
- Higher mortgage rates have been cooling home prices since last summer, and for the first time in a record 131 consecutive months — nearly 11 years — prices were lower on a year-over-year comparison.
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