
After a series of worse-than-expected data last month, the housing market appears to be back on track.
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After a series of worse-than-expected data last month, the housing market appears to be back on track.

Despite sparse home inventory, the National Association of REALTORS reports that 4.59 million “existing homes” were sold in February on a seasonally-adjusted, annualized basis.

Home affordability moved higher last quarter, boosted by the lowest mortgage rates in history, a rise in median income, and slow-to-recover home prices.

The housing market continues to show signs of improvement, propelled by low home prices and the cheapest mortgage rates of all-time.

According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December’s Existing Home Sales climbed by 120,00 units overall from the month prior on its way to an 11-month high.
After 3 consecutive months of easing, the Pending Home Sales Index jumped 10 percent in October, lending credence to the belief that housing is in recovery.

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