The National Association of Realtors released the existing home sales figures for February 2009 today. Sales increased to a seasonally adjusted annual rate of 4.720 million units in February up from 4.490 million units in January but down from 4.950 million units in February 2008. The median sales price was $165,400 for February up from $164,800 in January (up 0.4%) but down from $195,800 in February 2008 (down 15.5%). The January numbers were revised downward from $170,300 as reported last month to $164,800.
Months supply was 9.7 in February, the same as it was in January. According to the NAR, currently 40-45% of all transactions are distressed sales.
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