PORTLAND, OR , March 21, 2013 (RISI) -
Total existing-home sales in the U.S., which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8% to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January, according to the National Association of Realtors. The total is 10.2% above the 4.52 million-unit level seen in February 2012. February sales were at the highest level since the tax credit period of November 2009.
Total housing inventory at the end of February rose 9.6% to 1.94 million existing homes available for sale, which represents a 4.7-month supply at the current sales pace, up from 4.3 months in January, which was the lowest supply since May 2005. Listed inventory is 19.2% below a year ago when there was a 6.4-month supply.
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