Existing-home sales showed some improvement in February, but remain
constrained by low inventories of homes for-sale that are pushing price growth to the fastest pace in a year. The median existing-home price for all housing types was $202,600 in February – 7.5 percent higher than a year ago.
"Stronger price growth is a boon for home owners looking to build
additional equity, but it continues to be an obstacle for current buyers
looking to close before [mortgage] rates rise." "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsustainable levels." Read more.
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