February home resales jump much more than expected, despite higher mortgage rates
1. Home sales rose 4.2% in February, surprising analysts expecting a decline. 2. Median home price reached $398,400, a 3.8% annual increase. 3. Inventory increased 17% year-over-year but remains a tight supply. 4. First-time buyers increased their share, while investor participation declined. 5. Economic uncertainty and affordability issues hinder broader market recovery.