by Wolf Richter, Wolf Street:

The spring selling season is here, folks.

The median price of all types of homes sold in February, at $363,000, was down 0.2% from February 2022, according to the National Association of Realtors today. This was the first year-over-year decline since February 2012, when the market emerged from Housing Bust 1 (going into Housing Bust 1, the first year-over-year decline occurred in August 2006).