US home sales dropped to a six-month low in February amid cold weather in many parts of the country and record low supply, and a rebound could be muted by rising mortgage rates as well as higher house prices. Still, the report from the National Association of Realtors yesterday showed robust demand, with houses only staying on the market for a record-low 20 days after being listed. “We think severe winter weather depressed sales in February,” said Daniel Silver, an economist at JPMorgan in New York. “Existing home sales also are cooling off following a robust run due to some other factors apart from the weather.” Existing home sales dropped 6.6% to a seasonally adjusted annual rate of 6.22m
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