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Home Prices Fell in February for First Time in 11 Years

March 21, 2023


U.S. existing-home prices fell from a year earlier in February for the first time in 11 years, as a dip in mortgage rates caused home sales to surge from January levels.

The national median existing-home price fell 0.2% in February from a year earlier to $363,000, the first year-over-year decline since February 2012, the National Association of Realtors said Tuesday. Median prices are down 12.3% from their record $413,800 in June. Price figures aren’t adjusted for seasonality.

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