After a strong January, a lack of inventory has pushed home sales down in February after 19 straight months of increases. Despite the drop in sales, median prices were up for the 5th straight month. Condo sales and median prices were both up compared to 2012. (see graphs below –click on them to enlarge).
Link to February 2013 Housing Release (including data sheets)
Highlights from the release:
- Single-family home sales were Down 5% compared to last year
- Single-family median prices were UP 8.9% ($278,000) (5th straight month)
- Single-family inventory had another biggest year-over-year drop in February (-28.1%) (down for 11th straight month)
- Condo sales were up 1.7% compared to the same time last year
- The median price for a condo was UP 12.9% ($257,500) compared to last year