Very much in line with what we have been hearing, CNNMoney tells MHProNews the National Association of Realtors reports the sale of existing homes reached a seasonally-adjusted annual rate (SAAR) of 4.98 million in February, ten percent above February 2012 but only slightly better than January 2013. It was the best month since November of 2009, but at that time the $5,000 tax credit was in place. February’s median sales price was $173,600, an increase of 12 percent from a year ago. The inventory of homes on the market rose for the first time since July, indicating people are taking advantage of the increase in home prices. Distressed home sales accounted for 25 percent of home sales in February, below the 34 percent recorded a year earlier. The improving market numbers result from the increase in employment, low interest rates, and the drop in foreclosures.
