The Brief
- Home values rose in February for the first time in seven months, and existing sales increased from a year ago.
- Lower mortgage rates boosted buying power by about $30,000 and cut typical monthly payments by 7.7% year over year.
- Inventory rose 5% annually, though new listings fell 3%, keeping supply tight.
SEATTLE – Home values increased for the first time in seven months, and existing home sales were higher than a year earlier, according to the Zillow February Market Report.
Dig deeper:
According to Zillow, the rebound in existing home sales in February indicates that January’s softer numbers were likely affected by severe winter weather.…