Midwest home sales up nearly 10% in February


The National Association of Realtors says Midwest home sales improved nearly 10% over last year as tax credits continued to motivate buyers.

Figures released Tuesday show 68,000 sales in the 11-state region in February, and the median sales price increased roughly 1% over 2009, to $156,400.

Midwest sales improved more than the national ones.

Non-seasonally adjusted figures show total February homes sales increased 8% over last year. The median home price nationally was essentially flat at $210,500.

Sales fell on an annual basis in 10 of the 12 major Midwestern cities tracked in the Associated Press-Re/Max Monthly Housing Report. Omaha had the worst month with a 15% drop in sales.

Chicago recorded a 33% sales increase.