US existing-home sales jumped in February, by 14.5% or 4.58 million homes compared to January. That’s the largest monthly increase since July 2020, a new report from the National Association of Realtors (NAR) shows. The surge also breaks a 12-month trend of declining sales and fewer buyers on the market.

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The median price of a US home was lower this February than it was in February 2022, ending more than a decade of year-over-year increases, the longest on record, according to a National Association of Realtors report released Tuesday.