The pace of home sales remained essentially unchanged from January to February with NAR reporting an annual pace of 4.6 million homes. Sales were down 0.4% month to month and down 7.1% from the same month last year. Winter weather likely played a role in the slow pace of home sales in February, particularly in the northeast and Midwest regions of the country; however, some of the drop-off in home sales is likely attributable to a decrease in the number of distressed sales occurring around the country. NAR reported that 16% of home sales in February were distressed, down from 25% in the same month of last year. As we move out of the winter months, and lenders and consumers adjust to the changes in affordability and regulation, we should see sales begin to pick back up.