Existing Home Sales Jump 9.5 Percent in February

House for Sale

Existing home sales increased 9.5% in February to a seasonally adjusted annual rate of 4.38 million, marking the largest monthly increase since February 2023, but overall sales declined 3.3% from the previous year, according to the National Association of Realtors.

Total existing home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – jumped 9.5% from January to a seasonally adjusted annual rate of 4.38 million in February. Year-over-year, sales slid 3.3% (down from 4.53 million in February 2023).

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Property Taxes Climb 3.6 Percent Across U.S. to $339.8 Billion

Property taxes levied on single-family homes in the United States increased 3.6 percent to $339.8 billion in 2022, according to a new report from a real estate data firm.

That’s up from $328 billion in 2021. The 2022 increase was more than double the 1.6 percent growth in 2021, but smaller than the 5.4 percent increase in 2020, according to the report from ATTOM, a property data provider.

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Wall Street Firm Blackstone Invests $6 Billion in Single-Family Homes

"For Rent" sign in window of building

Investment firm Blackstone Group acquired 17,000 single-family rental homes on Tuesday in a deal worth $6 billion.

Blackstone, an asset management firm that focuses on alternative investments, acquired Home Partners of America (HPA) along with its 17,000 home inventory, the firm announced in a statement Tuesday. Blackstone will continue HPA’s business model of offering its tenants rent-to-own lease agreements, which allow the tenant to purchase the rental property after a certain amount of time.

“The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it,” Blackstone’s Real Estate Senior Managing Director Jacob Werner said in the statement. “We intend to build on that goal and expand access to homes across the U.S.”

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