Existing-home prices fall in February

Existing-home sales and prices dropped in February compared to the same month last year, the National Association of Realtors trade group reported today, while rising since January 2007.

The median price of existing homes fell 1.3 percent in February to $212,800 compared to the median price in February 2006, and the average price dropped 0.4 percent, to $260,100.

Sales reached a seasonally adjusted annual rate of 6.69 million in February, a 3.6 percent

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