Existing home sales fall further in February

The Mess That Greenspan Made

The National Association of Realtors reported that sales of existing homes fell 0.6 percent in February after a drop of more than 7 percent in January and sales are now at their lowest level in eight months.
It’s probably best not to make too much of the winter data for existing home sales because it is a very slow time of the year when seasonal adjustments can have a big impact on the data and the weather was bad last month, but, that months of supply metric certainly looks to be going in the wrong direction right now.

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