Sales of new single-family homes in February were at a seasonally adjusted annual rate of 592,000, a 6.1 percent increase compared with January’s rate of 558,000 and 12.8 percent above the February 2016 estimate of 525,000, according to the United States Census Bureau.
Sales of new single-family homes in February were at a seasonally adjusted annual rate of 592,000, a 6.1 percent increase compared with January’s rate of 558,000 and 12.8 percent above the February 2016 estimate of 525,000, according to the United States Census Bureau.
"The uptick in mortgage interest rates is having a minimal effect on new home sales thus far," said Robert Dietz, National Association of Home Builders chief economist, in a statement. "Ongoing job creation, rising household formations and affordable home prices should keep the market on an upward trajectory in 2017."
Regionally, new home sales increased 30.9 percent to 89,000 in the Midwest, 7.5 percent to 157,000 in the West, and 3.6 percent to 313,000 in the South. Sales fell 21.4 percent to 33,000 in the Northeast.
The median sales price of new homes sold in February was $296,200. The average price was $390,400.
