US home sales slump in Feb.; Pinal results mixed
Casa Grande Dispatch
A home for sale in Queen Creek/Zillow
Americans retreated from home-buying in February, reversing months of prior gains as low inventories pushed up prices to levels that restrict sales.
In Pinal County the monthly results were more mixed.
The National Association of Realtors said Monday that sales of existing homes fell 7.1 percent last month to a seasonally adjusted annual rate of 5.08 million. The decline follows robust yearly sales rates of 5.47 million in January and 5.45 million in December, after a new regulation had delayed closings in November.
In Pinal County, sales of single-family homes in February dipped from January and month-to-month from the previous year. Sales for February came in at 455, down slightly from January, in which 446 homes were sold. In February 2015, 511 homes were sold in the county.
