Economics
US Previously Owned Home Prices Fall for First Time Since 2012
- Median selling price dropped 0.2% in February from a year ago
- Retreat was driven by price declines in West and Northeast
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The median sales price of a previously owned US home slid in February for the first time since 2012, offering some relief for buyers still faced with high borrowing costs.
The median price slipped 0.2% in February from a year earlier to $363,000, according to the National Association of Realtors. The decrease was fueled by a 0.7% drop in the cost of single-family homes and coincided with a bigger-than-expected jump in sales during the month.