Is this a warning sign for the housing market?
Existing home sales in February came in much weaker than expected with existing home sales dropping 7.1 percent to an annual rate of 5.08 million units. Sales were expected to decrease 2.8 percent to a pace of 5.32 million units last month.
Keep in mind that sales were up 2.2 percent from a year ago, and the median price for a previously owned home increased 4.4 percent from a year ago to $210,800.
Read about the report in more detail here: Existing-Home Sales Fizzle in February