Sales of previously occupied U.S. homes slowed last month as rising prices and a dearth of homes for sale kept some would-be buyers on the sidelines.
The National Association of Realtors said Monday that existing homes sales in February fell 6.6% from January to a seasonally-adjusted rate of 6.22 million annualized units. Sales were up 9.1% from February last year, before the pandemic upended the economy and temporarily held up home sales last spring.
Severe winter weather across much of the U.S. was likely a factor in the slowdown, which marked the first monthly sales decline in sales in two months. However, a recent rise in mortgage rates was
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