U.S. existing home sales rose 1.7% in February to 4.09 million units, driven by easing mortgage rates and improved affordability. Despite a 1.4% year-over-year decline, median home prices increased slightly to $398,000. Housing affordability improved across all regions. Inventory rose 2.4% but remains below pre-pandemic levels. First-time buyers accounted for 34% of sales, while all-cash and distressed sales remained steady.
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