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In February 2020, pending home sales were up 9.4% year-over-year.
February 2020 brought 5.77 million in sales, a median sales price of $270,100, and 3.1 months of inventory. The median sales price is up 8.0% year over year, and inventory is down 0.5 months from February 2019.
Home showings increased substantially in February as a result of current economic conditions. According to CDC data, the number of coronavirus (COVID-19) cases in the U.S. escalated in the second half of February so any effect on home buying has not shown up in the February foot traffic.
The foot traffic index increased 6.2 points in January from the prior month and was unchanged from one year ago.