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US existing home Feb sales fall more than expected from 10-year high

Fall comes amid a shortage of homes in market that is pushing up prices, sidelining buyers

Reuters  |  Washington 

US home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining potential buyers. The National Association of Realtors said on Wednesday existing home sales declined 3.7 per cent to a seasonally adjusted annual rate of 5.48 million units last month. January's sales pace was unrevised at 5.69 million units, which was the highest level since February 2007. Economists polled by Reuters had forecast sales decreasing 2.0 per cent to a pace of 5.57 million units last month. "Realtors are ...

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First Published: Wed, March 22 2017. 23:26 IST
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