New data from the U.S. Census Bureau and Department of Housing and Urban Development show new single-family home sales in February ticked downward by 3.3 percent to a seasonally adjusted annual rate of 440,000 units in February.
The culprit? Again, the National Association of Home Builders, through Chairman Kevin Kelly, blames it on natural forces.
"There is no doubt that the persistently bad weather took a toll on sales in February," he said in a statement. "However, builders continue to increase their inventory of for-sale homes, indicating they still anticipate a relatively strong spring buying season."
Average new-home sales for January and February are "exactly in line with where 2013 left off," NAHB Chief Economist David Crowe said.
He added that this year's pace would easily be beating last year's if not for, you guessed it, the weather.
