U.S. home sales soared 11.8 percent in February, aided by accelerating wages and falling mortgage rates that are improving affordability. The February sales figures point toward growth in sales of homes priced between $250,000 and $500,000, a range that is generally affordable to middle-class families. Still, existing-home sales are down 1.8 percent from a year ago because of the severity of last year's slowdown. The median sales price in January was $247,500, a slight increase of 3.6 percent from last year. However, February's sales bust caused the months' supply of homes on the market to tumble to 3.5 months from 4.4 months in September.

Source: Fox News March 22, 2019 14:21 UTC