Volatility in existing home sales continued in February, as the National Association of Realtors reported a 14.5% jump in February to a seasonally adjusted annual rate of 4.58 million, snapping a 12-month slide.

The figures represented the largest monthly percentage increase since July 2020 (+22.4%). Compared to one year ago, however, sales retreated by 22.6%.

NAR Chief Economist Lawrence Yun said that consumers conscious of changing mortgage rates are taking advantage of any rate declines.

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