WASHINGTON — Slightly more Americans bought homes in February, but tight inventories, affordability problems and nasty winter weather point to sluggish sales in the coming few months.
Sales of existing homes rose 1.2 percent last month to a seasonally adjusted annual rate of 4.88 million, a slight rebound after plunging in January yet still underperforming by historical standards, the National Association of Realtors said Monday.
The real estate market has hibernated through the first two months of 2015, creating the potential for a second straight year of weak buying activity.
Read Tuesday’s Arkansas Democrat-Gazette for full details.